Citywire Americas rounds-up the biggest news in the funds and Ucits investment universe as reported by Citywire’s global publications.
Old Mutual Wealth is now an anchor investor in boutique Usonian Investments’ new Japan fund to allow the strategy to open in a Ucits format.
The Dublin-domiciled Usonian Japan Value Ucits fund is the flagship fund of Usonian, which was formed out of the former Japan value team at Chicago-based mutual fund Advisory Research.
Lead manager on the fund is Drew Edwards, a former manager at Advisory Research who now serves as chief executive officer at Usonian. In this new Ucits approach, Edwards will focus on inefficiencies in the Japan equity market using a bottom-up, value-focused approach. He will target undervalued and profitable stocks.
US investment giant Capital Group expanded its bond fund range with a newly launched global corporate fund, as it attempts to diversify away from its traditional equities focus.
The Los Angeles-based group now runs nine Ucits-compliant fixed income strategies after the unveiling of the Capital Group Global Corporate Bond (Lux) fund.
The new fund is designed to capitalize on interest from investors outside the US, namely those in Europe and Asia, for a wider array of fixed income opportunities.
Schroders head of US credit strategies, Wesley Sparks, has taken a leave of absence and will return to the firm later this year in a new position.
Sparks was named head of US credit in 2014 after serving as head of US fixed income from 2008. He joined Schroders in 2000 from Aeltus Investment Management.
He runs several funds at the firm, including the Schroder Total Return Fixed Income and PMC Core Fixed Income fund for the US market and four Ucits-compliant funds within the global corporate universe.
When he returns to the firm Sparks will take on a new role, away from directly running funds.