As March draws to a close and spring settles in to stay, asset management firms across Switzerland and Europe have announced the budding of new strategies.

From ventures into the AI territory by Allianz Global Investors to a whole rebrand and quadruple strategy project for GL Asset Management, Citywire Switzerland brings you all the latest news in the fund industry from the past week from 27 March-31 March.

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AI appeal

Allianz Global Investors has branched out with the launch of an artificial investment (AI) equity fund.

The new fund will invest in companies pushing, developing and advancing AI globally. It will build on an existing strategy launched for Japanese investors in September in partnership with Sumitomo Mitsui Asset Management and Nikko.

This strategy currently has $1.8 billion in assets.

The fund will be managed by Sebastian Thomas, US head of technology research and portfolio manager.

Thomas said the fund, unlike traditional technology funds, will benefit from the disruptive nature of AI and harness dynamic, sustainable development in this area.

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Broadening horizons

Zurich-based GL Asset Management has announced plans to open up four of its market-neutral strategies to a wider set of investors as part of a larger rebrand.

The group, formerly known as GL Finance before 2015, has decided to shift its focus to asset management.

Two of the boutique’s funds are called GL Algomatica and are based on statistical arbitrage methods, one leveraged, and the other non-leveraged.

The other two funds to open up to a wider market are the European and global long/short strategies, which take advantage of both underpriced and overpriced stocks.

The firm has no association with GL funds, which was acquired by Bellecapital in June 2016.

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Three of a kind

After a busy week for the group, UBS AM announced the creation of three new actively managed multi-asset funds.

Here’s the new range of strategies:

UBS (Lux) Key Selection SICAV – Active Allocation Defensive (EUR)

UBS (Lux) Key Selection SICAV – Active Allocation Balanced (EUR)

UBS (Lux) Key Selection SICAV – Active Allocation Growth (EUR)

The active allocation funds will mainly invest in passive instruments, including index funds, exchange-traded funds and derivatives.

The strategies will be managed by Philip Brides, co-head of portfolio management, and Fabrice A. Foy, quantitative analyst and deputy portfolio manager.

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Closing time

St Gallen boutique Notenstein La Roche has closed its North American equity fund, the Notenstein La Roche North America fund.

The liquidated fund was managed by group CIO Matthias Geissbühler and invested in the 50 largest companies in the US and Canada that were included in the benchmark index.

The closure of the strategy took place a month after the bank liquidated its Notenstein La Roche Europa fund, which was also managed by Geissbühler.

Geissbühler continues to run two other funds, the Notenstein La Roche Asia Opportunity and the Notenstein La Roche Swiss Mid-Small-Cap-Index Active Plus fund.

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