Citywire Americas rounds up the biggest news in the funds and Ucits investment universe as reported by Citywire’s global publications.
Swiss asset manager GAM has unveiled plans to expand its fund range with the launch of four new strategies.
These include an equity fund focused on Europe, Australia and the Far East, an insurance-linked securities fund, a global income fund and a global equity systematic strategy.
The announcement was made in its 2017 group results, where GAM unveiled its pipeline of upcoming funds. It comes shortly after a period of consolidation at the firm during which the firm axed 82 funds in the space of two years. Of those funds, 16 were merged or liquidated in 2017 with the remainder axed the previous year.
French asset manager Carmignac has reshaped its Portfolio Euro Patrimoine fund into a long/short equity strategy.
The fund has since been renamed Carmignac Portfolio Long-Short European Equities and will continue to be run by Male Heininger.
The €350 million ($434.3 million) fund will now operate with a long bias in equities and a bond component, the group revealed in a note to shareholders.
At least half of net assets in the portfolio must be invested in small, mid and large caps from countries in the European Union, Switzerland, Iceland and Norway.
Franklin Templeton Investments has renamed and altered the strategy of its global euro fund to include climate change criteria.
The Templeton Global (Euro) fund co-managed by Toronto-based Maarten Bloemen and London-based Dylan Ball, has been renamed the Templeton Global Climate Change fund.
The newly positioned fund invests in attractively valued companies preparing for the transition to a lower carbon economy.
The new focus on climate change has been adopted as Franklin Templeton has seen growing interest from both retail and institutional clients in sustainable investing.
Investec Asset Management has hired portfolio manager Elias Erickson from Thornburg Investment Management for its North American investment team.
Erickson has joined Investec’s quality-focused team, which is currently co-headed by Clyde Rossouw and Simon Brazier. At Thornburg, he was associate portfolio manager on the Thornburg Global Opportunities fund.
As part of his new role, Erickson will manage a portfolio of international equities following the team’s quality approach.