Wells Fargo AM brings funds to Sweden
Wells Fargo Asset Management has registered some 13 sub-funds to the Wells Fargo (Lux) Worldwide Fund for the Swedish market.
The funds include investment strategies that Wells Fargo said have been unavailable or under-represented in the market previously.
Some have a track record in other European countries since 2008, but six of the funds were launched in July 2012.
The funds include:
China Equity Fund
Emerging Markets Equity Fund
Emerging Markets Equity II Fund
Emerging Markets Income and Growth Fund
Global Equity Fund
Global Opportunity Bond Fund
Precious Metals Fund
US All Cap Growth Fund
US Dollar Short-Term Money Market Fund
US High Yield Bond Fund
US Large Cap Growth Fund
US Premier Growth Fund
US Short-Term High Yield Bond Fund
Andrew Owen, executive vice president at Wells Fargo Asset Management, said the company was committed to expansion in Europe, because the region’s asset management market is growing faster than in North America.
“European investors are responding well to the complete autonomy of our fund managers, the multiple layers of risk management and oversight that we apply to the business, and our strong focus on product transparency,” he said.
“We also offer investors what we consider truly independent investment ideas and research through our thought leadership programme provided by our respected team of top-down investment strategists.”
Local media in Sweden, reporting on the funds registration, have positioned Wells Fargo AM’s move as one encouraged by US investor Warren Buffett, whose investment company Berkshire Hathaway is the biggest investor in Wells Fargo Bank.