Capital Group to launch fund for European investors
Capital Group has announced that it plans to launch a fund aimed at European investors.
Capital Group will be making one of its global equity strategies from the US simultaneously available to European and Asian investors, pending regulatory approval, later this year.
The new fund will be a Luxembourg-domiciled fund (Ucits) and will follow the same unconstrained, global investment approach as in the US.
Having recognised the continuing evolution of global companies over many decades, the Capital Group New Perspective strategy focuses on blue-chip companies that are well-positioned to take advantage of global secular trends with the potential to develop into leading multinationals.
These companies typically have the added experience of working in multiple currencies, regulatory and political regimes and economies.
Capital’s investment professionals believe that as companies successfully grow beyond their home markets, they often possess diversified profit streams, innovative management teams and solid balance sheets which could help them prosper as investments in healthy environments but also mitigate downswings in tough times.
The new fund will be managed by the same investment team who runs the New Perspective strategy in the US.
Grant Leon (pictured), Managing Director, Financial Intermediaries, Europe, said: “US investors have had access to New Perspective Fund for many years and we are excited to bring this strategy to European clients. The launch of the New Perspective strategy will complement our drive to grow our European Financial Intermediary business and epitomises our focus on delivering superior, consistent long-term investment results.”
Stephen Gosztony, Managing Director, Institutional, UK and Ireland, said: “This launch demonstrates our continued focus on making it as simple as possible for our clients in Europe to access the very best of Capital Group’s capabilities.
“The European institutional market is a core market for Capital Group and we are particularly pleased that investors in the region will be able to benefit from a strategy with such a strong heritage which complements our existing fund range. We believe that the long term aims of the strategy further align our interests with the needs of our clients across the European market.”