Geneva-based Mirabaud Asset Management will merge the Mirabaud – Equities US and the Mirabaud Equities Global Focus funds on 15 May 2018.
In a shareholder note seen by InvestmentEurope, Mirabaud argued that it wants to provide a large geographical equity coverage to the shareholders of the absorbed fund (Mirabaud – Equities US) and the edges of a fund with a larger size to the shareholders of the absorbing fund (Mirabaud Equities Global Focus).
Mirabaud explained globalisation has led to a greater interdependence between worldwide economies, adding that half of the absorbing fund was already composed of US equities.
Mirabaud’s US equity fund, launched in March 2004, was worth $66.94m (€54.3bn) of assets as at 30 March 2018 while the Mirabaud Equities Global Focus fund, whose inception dates back to December 2013, tallied $14.70m (€11.9m) of assets at the same date. Anu Narula is lead portfolio manager and analyst on both strategies.
“The Mirabaud Global Equity focus fund is a concentrated fund of 25 holdings, it is multi thematic and ESG. We use themes to identify areas of long term structural growth allowing leaders in these areas to grow without depending on the macroeconomic backdrop. We currently have 10 themes, of which the newest addition is the Millennial Consumer. All fund holdings are subject to a strict ESG process. The fund is +9.4% relative to the MSCI ACWI over 12 months. Further information is available on the website, where the full 2018 Themes outlook is also available.
We believe this is the best way to invest in the current environment,” comments Anu Narula, head of Global Equities at Mirabaud AM.
As at 31 December 2017, Mirabaud had net assets under administration of CHF33.3bn (€28.26bn), comprising CHF9bn (€7.3bn) in asset management.