French boutique La Financière de la Cité has launched the FDC Brexit fund, aiming to benefit from the new market environment created by the Brexit by investing primarily into UK, Swiss and Scandinavian equities, InvestmentEurope can reveal.
It is the firm’s belief that the fall of the sterling will help to rebalance Britain’s economy and provide more flexibility to the country whereas the eurozone suffers from a structural discount linked to deflationary policies implemented after the crisis and disagreements on the euro currency.
The FDC Brexit fund, launched on 30 December 2016, is managed by Bruno Demontrond who is also responsible for the management of the FDC Centre Europe, the FDC Ressources Naturelles and the FDC Transatlantique strategies.
It seeks to outperform the Dj Stoxx 600 index net dividends reinvested) over a five-year period.
As of 20 January 2017, the five positions of the FDC Brexit fund were Smiths Group Plc (4.18%), Bae Systems Plc (4.06%), Diageo Plc (4.04%), Carnival Plc (4.01%) and Royal Dutch Shell Plc – A SHS (3.99%).
The fund does not hold financial stocks. Industry, healthcare and consumer discretionary were the three main sectors in which it was invested as at 20 January 2017.
Founded in 2005, La Financière de la Cité manages around €2bn of assets.