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Cost measures see DWS merge Swiss equity funds

Cost measures see DWS merge Swiss equity funds

DWS Investments has opted to merge two Swiss equity funds run by the same manager into one strategy in order to improve cost efficiencies, the company has revealed.

The DWS (CH) – Helvetia Aktien 130/30 fund – which invests across all cap sizes in Swiss equities – was officially closed at the start of December to allow the move.

This mandate has since been absorbed into the DWS (CH) - Small & Mid Caps Switzerland fund, which targets outperforming companies in the Swiss market further down the cap size range.

According to the company, the Small & Mid Caps fund aims to achieve long term growth and has the ability to use derivatives where necessary. It currently has CHF 46.8 million (€38.2 million) in assets under management.

DWS said the merger of the funds was eased by the fact fund manager Paul Schibli oversees both strategies. Schibli was named as lead on both funds in September 2011.

A spokesperson for DWS told Citywire: ‘Both funds merged as their investment universe coincided to a certain point. It makes sense, also from a cost efficiency point of view and for the investors' interest.’

Over the past three years, the DWS (CH) – Small & Mid Caps Switzerland fund has returned 14.73%. This compares to its Citywire benchmark, the Swiss Performance Index Small & Mid TR, which rose 13.89% over the same period.

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