Capital Group to market $24.7bn EM strategy in Europe
US-based Capital Group has plans to make its emerging market strategy New World, available to investors outside the US with the launch of Capital Group New World Fund (LUX) in October.
The fund, launched in 1999 and tallying $24.7bn (€22.1bn) of AUM as of end August 2016, relies on a flexible and domicile-agnostic approach.
The fund is combining local EM businesses with global multinationals that are benefiting from EM growth.
New World will be the third fund of Capital Group available to European investors following the former launches of Capital Group New Perspective Fund (LUX) last October and the Capital Group Investment Company of America (LUX) in June 2016.
Hamish Forsyth, European President of Capital Group Companies Global, said : “This new fund launch represents a further stage in our strategic plan to make available the best of Capital Group’s strategies to European investors and to support the growth of our business activities across the region.”
Established in Europe since 1962, Capital Group has some €1.4trn of assets under management.