Nedgroup ventures into German market
Nedgroup Investments, the asset management division of South African Nedbank Group, has announced that its $469m Global Flexible Ucits fund is now available to German investors.
The fund, which is sub-advised by US boutique First Pacific Advisors (FPA) follows a contrarian value strategy led by co-portfolio managers Steven Romick, Brian Selmo and Mark Landecker.
The team aims to build a bottom up portfolio whilst taking dvantage of risk-return asymmetry across the capital structure and being prepared to hold meaningful amounts of cash for extended periods when value opportunities are scarce.
According to James Amy, head of International Development at Nedgroup Investments, the fund has attracted growing interest among European investors and Germany was a critical first step in meeting that demand.