St.Galler Kantonalbank has changed the management of its euro equity fund, Citywire Switzerland can reveal.
The new manager overseeing the strategy is Adrian Fässler, who started on the fund in December 2016.
The regional bank runs Finreon Euro Equity IsoPro fund in cooperation with Finreon, a St.Gallen-based adviser.
As part of this cooperation Finreon plays the role of an asset adviser, while St.Galler Kantonalbank provides asset management services for the firm.
According to a spokesperson for Finreon, the fund manager change was not a result of any major developments at the bank.
Fässler has been working with the St. Galler Kantonalbank bank since June 2013 and is based in Zurich.
Over the course of the past 10 years, he managed portfolios of private and institutional clients with a focus on euroland equities.
He used to work with such private banks like Sal.Oppenheim and Maerki Baumann & Co AG.
Rüdisüli is still working with St.Galler Kantonalbank as a fund manager and oversees the Finreon US Equity IsoPro fund.
Finreon Euro Equity IsoPro fund invests in the universe of up to 150 eurozone stocks. The size of each position is based on an equal weighting optimised towards minimum variance.
According to the latest factsheet the biggest two sector allocations are industry (17.8%) and finance (17.4%). While the top three positions are supplier of pipe products Tenaris, French electronic systems company Thales and German medical supplies producer Fresenius Medical Care.
This is not the only change that happened in the fund management team of the regional bank. In November 2016 Karl Keller and Vera Caluori took over a multi-asset fund SGKB (CH) Fund - Strategie Ausgewogen from Robert Wenk.
Finreon Euro Equity IsoPro returned 0.39% in Swiss francs over the year to the end of December 2016. Its technical indicator, the EURO STOXX 50NR EUR, returned 2.25% over the same timeframe.