US group launches global growth & income fund
New York-headquartered asset manager OppenheimerFunds has launched the Oppenheimer International Growth and Income Fund.
The fund is managed by Robert Dunphy, co-portfolio manager of Oppenheimer International Growth Fund, who joined the firm in 2004.
The Oppenheimer International Growth and Income Fund will seek total return.
The fund will rely on a bottom-up approach looking quality, dividend paying companies that are exposed to long-term secular growth trends.
The portfolio will consist of 50 to 80 quality stocks, balancing current yield, growth and sustainability of cash returns.
Krishna Memani, CIO of OppenheimerFunds, said: “The fund seeks to expand on the success factors of the Oppenheimer International Growth Fund to investors looking for income in addition to long-term capital appreciation.”
“Our investors want access to international companies that have structurally sustainable growth advantage, ignoring index biases,” added Kamal Bhatia, Head of Investment Products and Solutions, OppenheimerFunds.
Founded in 1959, OppenheimerFunds managed more than $222bn in assets for over 13 million shareholder accounts, as of 30 September 2016.