Tobam surpasses $6bn AUM level
Tobam, the anti-benchmark product provider has announced a further $150m mandate from a North American institutional investor, taking its total AUM above $6bn.
The manager has increased its AUM by $0.5bn in the year to date, after doubling AUM through 2013.
The new mandate is to fund a newly created Anti-Benchmark Next US Equity strategy, which will focus on the Nasdaq 100 index. Tobam’s flagship Anti-Benchmark US Equity strategy has raised over $1bn thus far.
Yves Choueifaty, president of Tobam, said: “Originally the NASDAQ 100 Index was known as the US technology index, but in fact it has a much wider range of sectors. Some of the most innovative companies of the US industry are listed with this index. Diversification is our leitmotiv, and innovation is the fuel to diversification. The Anti-Benchmark Next US Equity strategy offers a double opportunity to investors by proposing the maximum diversification possible amongst the most innovative companies.”