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Fund Flash: Legg Mason HY manager exits/Goldman and AB launch EMD funds

Fund Flash: Legg Mason HY manager exits/Goldman and AB launch EMD funds

Citywire Americas rounds-up the biggest news in the funds and Ucits investment universe as reported by Citywire’s global publications this week. 

AB and Goldman launch EMD funds

AllianceBernstein and Goldman Sachs Asset Management revealed new emerging market debt funds this past week.

AB launched a total return-focused strategy, the AB SICAV I-Em Mkt Debt Total Return fund, on November 16 as a Luxembourg-domiciled fund. It will be run by joint lead portfolio managers, Shamaila Khan and Christian DiClementi, who both have extensive experience in emerging market investing.

Goldman Sachs Asset brought an absolute return EMD fund to the table. The Goldman Sachs Emerging Markets Absolute Return Bond Portfolio will be managed by GSAM’s global EMD team which currently supervises around $45 billion globally.

HY head exit prompts bond unit reshuffle

Citywire + rated manager Regina Borromeo left Brandywine Global and relinquished her role as head of international high yield.

Borromeo, who joined the Legg Mason-owned fixed income boutique in 2010, stepped down to pursue opportunities elsewhere within the asset management industry. The move sees Borromeo step down from the several funds in the international high yield sector.

Following Borremeo's departure, Tracy Chen retains a lead role on the Legg Mason Brandywine Global Credit Opportunities, Global Defensive High Yield and Global High Yield funds.

Meanwhile Jack P. McIntyre and Anujeet Sareen take on the Legg Mason Brandywine Global Income Optimiser fund, working alongside existing co-managers Gary Herbert and Brian Kloss.

BlackRock launches macro opportunities fund

BlackRock launched the BSF Global Macro Opportunities fund, an absolute return global macro opportunities fund that will utilize a long/short multi-asset approach to offer an alternative to traditional risk asset exposures.

Stuart Spodek will manage the fund with Yoni Saposh as the deputy lead portfolio manager. The fund’s mandate will allow it to invest across global equities, rates, credit and currency markets.

Invesco PowerShares ramps up ETFs push

Invesco PowerShares has further bolstered its aggressive push into the ETFs market with five factor-focused European equity funds.

These new ETFs track the Solactive Tradable European Factor indices, which are derived from a universe of 675 stocks.

The new products are the:

  • PowerShares Tradable European Value Factor Ucits ETF (PFTV GY)
  • PowerShares Tradable European Quality Factor Ucits ETF (PFTQ GY)
  • PowerShares Tradable European Low Beta Factor Ucits ETF (PFTB GY)
  • PowerShares Tradable European Price Momentum Factor Ucits ETF (PFTP GY)
  • PowerShares Tradable European Earnings Momentum Factor Ucits ETF (PFTE GY)

BNP Paribas unveils disruptive tech fund       

BNP Paribas Asset Management launched a thematics fund designed to target disruptive technology and innovation.

The Parvest Disruptive Technology fund will be managed by Pam Hegarty.

The Luxembourg-registered fund will have around 30-50 holdings in companies with a minimum market capitalisation of $1 billion, selected from the MSCI World Index.

US giant launches fund on GSAM platform

Boston Partner expanded its international remit by adding its long/short equity fund to Goldman Sachs’s Ucits platform.

The Boston Partners Long/Short Equity fund is managed by Citywire + rated Christopher Hart and Joshua Jones, who manage several funds including the Boston Partners Global Equity fund.

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