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St. Gallen bank liquidates CIO's North American equity fund

St. Gallen bank liquidates CIO's North American equity fund

St. Gallen-based Notenstein La Roche has liquidated its North American equity fund, Citywire Switzerland can reveal.

Matthias Geissbühler, group CIO and A-rated portfolio manager on the strategy, will continue managing two other funds: Notenstein La Roche Asia Opportunity and Notenstein La Roche Swiss Mid-Small-Cap-Index Active Plus.

The liquidated strategy, Notenstein La Roche North America, invested in the 50 largest companies in the US and Canada that were included in the benchmark index.

According to fund data from the end of December 2016 the top three positions were Apple (7.54%), Microsoft Corp (6%) and JPMorgan Chase & Co (4.03%).

The strategy has returned 44.38% in Swiss franc terms over the past three years to the end of February 2017. Its Citywire-assigned benchmark, the S&P 500 TR, has returned 53.96% over the same timeframe.

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.

The goal of the closed strategy was to invest in securities of large-cap companies domiciled in the Eurozone or the UK.

The Notenstein La Roche CH Mid-Small-Index Active Plus fund returned 45.08% in Swiss franc terms over the past three years to the end of February 2017. Its Citywire-assigned benchmark, the Swiss Performance Index Small & Mid, returned 38.48% over the same timeframe.

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