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Fund digest: all the need-to-know launches and closures

A weekly round-up of all the latest fund launches, closures and changes that hit markets between 24 April and 28 April.

With spring in full swing, we take a look at the latest budding strategies and those that didn’t withstand winter’s frost.

From Credit Suisse’s new target-dated bond to Union Bancaire Privée’s European equity funds merger, Citywire Switzerland brings you all the latest news in the fund industry from the past week from 24 April-28 April.

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Widening the reach

Vanguard has opened up two UK-focused passive strategies to the Swiss market, giving Swiss investors access to UK large cap companies.

The Vanguard FTSE 100 UCITS ETF and the Vanguard FTSE 250 UCITS ETF are now listed on the SIX Swiss Exchange.

With the latest additions, Vanguard now has 20 Ucits ETFs listed on the Swiss stock exchange.

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Focusing attention

Union Bancaire Privée has merged two of its European equity funds as part of a ‘strategic rationalisation’ of the fund range, according to the Geneva group.

The UBAM – European Opportunities Equity, which had €2.87 million assets under management in February 2017, has been rolled into the UBAM – Europe Equity fund.

The merged strategy was co-managed by Rupert Welchman and Rob Jones, who both remain at the firm.

The receiving strategy is run by Rob Jones and Scott Meech.

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Betting on behaviour

RAM Active Investments has introduced a long/short global equity fund to the Swiss market, which runs on a quantitative model and focuses on fundamental and behavioural-based stock selection.

The RAM (Lux) Systematic Funds – Long/Short Global Equities funds is managed by Thomas de Saint-Seine, Maxime Botti and Emmanuel Hauptmann.

The strategy aims to capture market inefficiencies from a universe of over 6,000 stocks in the developed market universe with a diversified portfolio of more than 800 stocks.

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A new target

Credit Suisse has launched a new target-dated bond fund following investor demand for shorter-term approaches.

The CS (Lux) Fixed Maturity Bond Fund 2021 S-2 will run under the same structure as the Credit Suisse (Lux) Fixed Maturity Bond Fund 2020 S-1, launched in September 2016.

The new Ucits-compliant strategy will focus on emerging markets and is set to be run by a team led by Citywire A-rated Gonzalo Borja.

Credit Suisse launched a target-dated bond fund in May 2016 which saw assets under management reach €3.33 billion shortly after launch and was closed to new investors in June ahead of the planned September close.

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Green light

Lombard Odier Investment Managers continued its push into the SRI space with the launch of the Ucits-compliant LO Funds – Global Responsible Equity fund.

The strategy launched with $83 million in assets under management and is managed by head of systematic equities Alexandre Déruaz and co-portfolio manager Nicolas Mieszkalski.

The fund targets a smaller carbon footprint than the broader market and is based on a proprietary ESG measurement approach that aims to identify sustainable businesses.

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Off-trend

Jupiter Asset Management has closed the Jupiter JGF North American Equities fund following a lack of assets under management.

The fund had €5 million in assets and was liquidated on 28 April 2017. The closure will not have an impact on the unit trust version of the fund, the firm has confirmed.

The strategy was run by Sebastian Radcliffe since its launch in November 2009.

Jupiter said its global distribution team thought it unlikely that assets would increase given current market trends.

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International reach

Veteran investor Richard Pease’s boutique CRUX Asset Management is launching a Ucits-compliant strategy to allow international investors to tap into his flagship European equity fund.

The asset management firm will invest at least 85% of its assets into the €1.8 billion FP CRUX European Special Situations fund, managed by A-rated Pease and James Milne.

The CRUX Global fund is set to have one sub fund, the Crux European Special Situations Feeder fund, which will launch on 15 May 2017 with an offer period from 2 May to 12 May.

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Related Fund Managers

Rupert Welchman
Rupert Welchman
34/35 in Equity - Europe Income (Performance over 3 years) Average Total Return: 4.24%
Gonzalo Borja
Gonzalo Borja
12/20 in Bonds - Emerging Markets Global Corporates (Performance over 3 years) Average Total Return: 8.48%
Alexandre Deruaz
Alexandre Deruaz
225/249 in Equity - US (Performance over 1 year) Average Total Return: 17.51%
Nicolas Mieszkalski
Nicolas Mieszkalski
56/345 in Equity - Europe (Performance over 3 months) Average Total Return: 8.31%
Rob Jones
Rob Jones
209/238 in Equity - Europe (Performance over 3 years) Average Total Return: 14.99%
Scott Meech
Scott Meech
210/238 in Equity - Europe (Performance over 3 years) Average Total Return: 14.99%
Thomas de Saint-Seine
Thomas de Saint-Seine
33/238 in Equity - Europe (Performance over 3 years) Average Total Return: 37.27%
Maxime Botti
Maxime Botti
32/238 in Equity - Europe (Performance over 3 years) Average Total Return: 37.27%
Emmanuel Hauptmann
Emmanuel Hauptmann
31/238 in Equity - Europe (Performance over 3 years) Average Total Return: 37.27%
Richard Pease
Richard Pease
9/28 in Equity - Europe Excluding UK (Performance over 3 years) Average Total Return: 39.52%
Sebastian Radcliffe
Sebastian Radcliffe
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