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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 January 23-27.

As January draws to a close big asset management firms are making a few changes especially in the Alternative Ucits space, covering such areas like long/short, market neutral and multi-trend strategies.

Citywire Switzerland brings you all the launches and closures made over the week from January 23-27. From re-opening of UBS long/short fund to a merger of two US Franklin Templeton funds we take a closer look at the fund changes and new ventures, which caught attention last week.

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As January draws to a close big asset management firms are making a few changes especially in the Alternative Ucits space, covering such areas like long/short, market neutral and multi-trend strategies.

Citywire Switzerland brings you all the launches and closures made over the week from January 23-27. From re-opening of UBS long/short fund to a merger of two US Franklin Templeton funds we take a closer look at the fund changes and new ventures, which caught attention last week.

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Please sign in or register to comment. It is free to register and only takes a minute or two.

Long/short appeal

UBS Global Asset Management reopened a previously top-performing long/short equity fund on 27 January.

The UBS – (Lux) Equity SICAV – European Opportunity Unconstrained fund was soft-closed in the summer of 2015 when assets under management surged to over €4 billion from a base of €100 million in June 2013.

It has been revealed that these restrictions on net new money were lifted in November 2016. A spokesperson confirmed that the current assets under management in the fund had fallen back to €2.7 billion.

The fund has been managed by Max Anderl(pictured) since its launch in 2012. Anderl is head of the concentrated alpha equity at UBS and runs several funds for the asset manager.

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Follow the trends

Credit Suisse Asset Management has launched a liquid trend-following fund, which is set to capitalise on raising interest rates and high valuations.

The Credit Suisse (Lux) Multi-Trend fund was launched in December and is overseen by Yung-Shin Kung, head of quantitative investment strategies at the Swiss group.

The fund can invest across a universe of equity, pension, commodity and currency markets.

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Value high

Schroders has broadened its bond fund range with what the asset manager says is the first value-focused high yield credit fund.

The Schroder ISF Global Value Credit fund, which was launched on January 18, will focus on out-of-favour market segments with the aim of providing a high total return.

It will be overseen by Konstantin Leidman, who is Citywire AAA-rated and currently oversees the Schroder ISF EURO High Yield fund.

In this new approach, Leidman will be unconstrained by a benchmark, which is designed to bolster his contrarian investment approach. He will focus on corporate bonds, financial issuers, convertibles and other securities.

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Gearing for market neutral approach

GAM is to reopen its Europe-focused market neutral fund after assets in the Alternative Ucits fund fell.

The move will see the GAM Star (Lux) European Alpha fund open to all investors having had subscription restrictions imposed in 2013 when it reached €950 million in assets.

However, the fund has since dropped back to around €700 million, which has enabled GAM to once again market the strategy to new investors. According to the November factsheet, the fund had €740.6 million in assets.

This Luxembourg-domiciled fund has been overseen by Lugano-based trio Roberto Cantaluppi, Paolo Longinotti and Gianmarco Mondani since 2003. The trio oversaw it at Arkos Capital, which was purchased by GAM in 2012.

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Optimising returns

Franklin Templeton merged away its US Total Return fund to create greater economies of scale within its bond fund range.

The move will see the Luxembourg-domiciled Franklin US Total Return fund merged into the Franklin Strategic Income fund on 21 April 2017, a spokesperson confirmed.

The merging fund, which was first launched on 29 August 2003, is managed by Citywire + rated duo Roger Bayston and Kent Burns. The fund had $149 million in assets under management as at the end of November 2016.

Meanwhile the receiving fund, the Franklin Strategic Income fund, which is also run by Bayston and Burns, as well as Chris Molumphy, had $1.8 billion in assets, as of the end of November 2016.

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Related Fund Managers

Roberto Cantaluppi
Roberto Cantaluppi
50/62 in Alternative UCITS - Market Neutral (Performance over 3 years) Average Total Return: -3.87%
Paolo Longinotti
Paolo Longinotti
49/62 in Alternative UCITS - Market Neutral (Performance over 3 years) Average Total Return: -3.87%
Gianmarco Mondani
Gianmarco Mondani
51/62 in Alternative UCITS - Market Neutral (Performance over 3 years) Average Total Return: -3.87%
Max Anderl
Max Anderl
220/257 in Equity - Europe (Performance over 3 years) Average Total Return: 15.01%
Yung-Shin Kung
Yung-Shin Kung
Roger Bayston
Roger Bayston
Kent Burns
Kent Burns
Konstantin Leidman
Konstantin Leidman