Citywire Americas rounds-up the biggest news in the funds and Ucits investment universe as reported by Citywire’s global publications this week.
Old Mutual Global Investors (OMGI) handed its $431.6 million US Dividend fund to the firm’s global equities team dropping subadvisors Barrow, Hanley, Mewhinney & Strauss.
The fund will be insourced to OMGI’s global equities team, headed by the firm’s head of global equities, Ian Heslop. It will now be managed by OMGI’s AA-rated trio of Heslop, Amadeo Alentorn and Mike Servent, who run several funds at the firm including the Old Mutual North American Equity fund.
Allianz Global Investors poached two portfolio managers from rival Columbia Threadneedle to kick-start its US fixed income operation.
The firm has hired Carl W. Pappo Jr and Frank Salem as chief investment officer for US fixed income and senior portfolio manager for fixed income, respectively. The duo, which has worked together for the last 10 years, is to launch US core, core plus, and liability driven investing strategies at Allianz.
Pappo was lead portfolio manager and head of core fixed income at Columbia, while Salem was responsible for building out the LDI capability at the firm.
ESG high yield fund launches
M&G’s ESG Global High Yield fund will be available to European investors and will be managed by James Tomlins and Stefan Isaacs, who currently manage several funds, including the M&G Global High Yield Bond Sterling fund.
The fund will invest at least 80% of its assets in global high yield bonds to form a flexible and highly diversified portfolio in terms of issuers, geographies and sectors.
Socially responsible investments currently account for about 25% of Candriam’s total assets under management, a percentage that looks to increase with the launch of its Candriam SRI Bond Global High Yield fund. The fund is designed to offer investors access to an ‘attractive’ asset class while limiting exposure to issuers with unsustainable growth models and low regard for the environment and social values.
Saemor Capital will bring its flagship European fund to a wider Ucits market under a partnership deal with Amundi.
The Saemor Europe Alpha fund currently exists as a Netherlands-domiciled fund available for joint account investors. It has €451 million ($530 million) in assets and was launched in June 2008.
In its new guise, the Saemor Equity Long Short fund will be launched on 15 December and will sit on Amundi’s AFH Ucits platform, its Luxembourg-based, Ucits-compliant arm.
The Robeco Global Credits – Short Maturity strategy is a Ucits-compliant approach designed to offer an unconstrained take on the short end of the global credit market.
Verberk currently oversees two credit-focused funds at the group, which are the Robeco Euro Credit Bonds and Robeco Global Credits funds.