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Fund Flash: Pimco unveils smart-beta ETFs/EMD chief exits Aberdeen Standard

Fund Flash: Pimco unveils smart-beta ETFs/EMD chief exits Aberdeen Standard

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

Pimco launches three smart beta ETFS

Newport Beach, California-based Pimco and Research Affiliates teamed up to launch three multi-factor exchange-traded funds (ETFs).

These three smart beta funds are:

  • PIMCO RAFI Dynamic Multi-Factor US Equity ETF
  • PIMCO RAFI Dynamic Multi-Factor International Equity ETF
  • PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF

The three funds aim to deemphasize the factors that are expensive compared to historical norms while emphasizing those that are undervalued to introduce a buy-low, sell-high discipline in the factor investing world. 

EMD chief exits Aberdeen Standard

Standard Life Investments’ head of emerging market debt, Richard House, left the firm as the merged Aberdeen Standard bond team begins to take shape.

House joined the firm from Threadneedle – now Columbia Threadneedle – in 2012 as part of plans to boost SLI’s operations in developing world bonds.

It is understood House’s departure comes amid wider changes under the merger deal which was formally completed on August 14.

Brett Diment, head of global emerging market debt at Aberdeen, will now oversee the combined EMD operations with the Aberdeen Standard bond unit, which covers credit, EMD and aggregate investing.

Another Aviva multi-asset team exit

Marc Semaan became the second member of Aviva Investors’ multi-strategy team to exit in little over a month, with the macro strategist joining UK group Fulcrum Asset Management.

He had joined in November 2015 as part of a wider strengthening of the team’s strategist capabilities. His exit comes shortly after Nick Samoulihan left to join T. Rowe Price in mid-August.

In his new role, Semaan assumes a similar strategist role to the one he held at Aviva Investors.

US firm launches alt-ucits range

Washington, DC-based Fort Investment extended its reach in the Alternative Ucits market with a pair of new fund launches over the course of the summer.

The group, which currently runs a Diversified and a Contrarian fund, has unveiled a systematic market neutral fund and a systematic momentum-based investment strategy.

The first, which is formally called the FORT Global Ucits Futures fund, invests in futures contracts on the global markets, including interest rates, bonds, currencies, equity indices, energy and metals. The second, the FORT Global Ucits Trend fund, is designed to capture medium-to-long-term trends in global futures markets.

BNP Paribas acquires stake in robo-advice firm

BNP Paribas Asset Management purchased a majority stake in Belgian fintech specialist Gambit Financial Solutions.

Gambit will retain its independence and become BNP Paribas’s preferred partner for robo-advisory solutions for its retail and wealth management networks.

The fintech firm, which was launched in 2007, is used by financial services groups across Europe and recently launched Birdee, a proprietary business to consumer robo-advisor. 

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