Citywire Americas rounds-up the biggest news in the funds and Ucits investment universe as reported by Citywire’s global publications this week.
The new managers of the $80.4 million vehicle, AAA-rated Joanna Kwok and A-rated Mark Davids, are tasked with turning it into a concentrated, growth-oriented portfolio. JP Morgan will also rebrand the vehicle as JPMorgan Funds – Asia Growth fund.
Ebrahim and Lloyd, who oversee $5.3 billion in funds and institutional assets, will retain responsibilities for the JPMorgan Eastern fund. Ebrahim is also co-manager of the JPMorgan Korea and JPM Korea Equity funds.
Aviva Investors appointed a head of multi-asset funds as it works to bolster that business segment.
Sunil Krishnan joined the firm in October from Santander Asset Management and will report to the group’s global head of multi-assets, Peter Fitzgerald.
The firm also appointed Gavin Counsell as a portfolio manager on the €2.63 billion ($3.10 billion) Aviva Investors Multi-Strategy (AIMS) Target Income fund.
He replaced Nick Samouilhan, who, it later emerged, had joined T. Rowe Price...
.... on the back of T. Rowe Price poaching Aviva's multi-asset manager
Samouilhan will join the Baltimore-based firm in November in a strategist position. At Aviva, he was named across multi-manager funds and worked closely on the firm’s multi-strategy funds, known as AIMS.
His appointment comes as T. Rowe is working to bolster its multi-asset capabilities. Samouilhan will work alongside Yoram Lusti, who recently joined from AXA Investment Management and report to Peter Austin, head of multi-asset solutions.
DNCA Investments is tilting its Eurocovery equity fund toward a more opportunistic slant and away from its previous value-based approach.
As part of the change, the firm renamed the fund as DNCA Opportunities Zone Euro. Co-managers Jean-Charles Mériaux and Adrien Le Clainche will now be able to select growth and quality stocks but have a limit of 20% exposure to smaller caps.
The fund had been allowed to invest up to half its assets in stocks with a market cap of €1 billion ($1.18 billion) or less.