Funds Watch and product launches
News from Polar Capital, SYZ & CO, Natixis Global Associates, Cheyne Capital, Fitch, iShares
Polar Capital completes launch of north American fund
Polar Capital holdings has announced the completion of the launch of its north American fund. The fund attracted inflows of $75m during the offer period which has now come to a close.
The fund is a Dublin domiciled Ucits all-cap long-only equity product and will typically hold between 40 and 60 stocks. Andrew Holliman is the lead manager of the fund with Richard Wilson as co-manager.
Holliman joined Polar Capital from Threadneedle where he was manager of the $2.5bn Threadneedle American fund. He has 14 years of investment experience. During that period he managed American funds for over 10 years and has an strong track record, outperforming the benchmark and peer group on a consistent basis, the company said.
Wilson also joined from Threadneedle where he was deputy fund manager of the Threadneedle American fund. He also managed more than $4.5bn of institutional American equities. Richard has 12 years of investment experience including seven years working alongside Holliman.
In spite of the uncertainty, “current market conditions offer attractive value and growth opportunities for long-term investors who are able to ride out short-term volatility,” Holliman said.
SYZ & CO launches OYSTER European selection fund
Swiss banking group SYZ & CO has launched OYSTER European Selection, a new sub-fund of its OYSTER Luxembourg Ucits Sicav based on the OYSTER European Opportunities fund.
The fund is managed by Eric Bendahan, an experienced European equities specialist with a strong stock-picking track record.
The fund is aimed at institutional clients with a time horizon of over five years. It will be registered shortly in several countries in Europe and Asia.
The fund adopts the same philosophy as that of the company’s OYSTER European Opportunities strategy. It is adapted to the needs of institutional clients with a focus on European stocks with strong growth potential over the next five years.
Stock-picking is central to the approach and is expected to be the main source of alpha generation. “The current market dislocation generates very interesting buying opportunities for long-term investors” Bendahan said.
NGA launches concentrated US value fund
Natixis Global Associates (NGA), the distribution arm of Natixis Global Asset Management, has launched the Harris Associates concentrated US value fund for UK investors.
The fund invests in US equities with a highly concentrated portfolio of around 20 US stock holdings of large- and mid-capitalisation companies.
The fund’s objective is long-term capital growth from investing in a limited number of stocks.
Harris Associates, an affiliate of Natixis Global AM, follows a strict, value-oriented investment approach. It seeks to identify companies whose stocks trade at a substantial discount to Harris’ estimate of their intrinsic value. Harris uses a private-equity approach to publicly traded stocks.
The fund is managed by a team led by Robert Levy, chief investment officer for US equities, and Mike Mangan and Edward Loeb, portfolio managers at Harris Associates.
The Fund is a sub-fund of Natixis International Funds (Lux) I, an open-ended Luxembourg-domiciled UCITS, and is available in Great Britain pounds. A full description of fund characteristics can be found in the prospectus.