BNP Paribas Asset Management has launched the Parvest Global Equity Absolute Return Strategy (Parvest Gears), a sub-fund of its Luxembourg-domiciled Parvest Ucits V Sicav on 17 January 2018. The Paris-headquartered firm’s plans were reported last October by InvestmentEurope.
Parvest Gears consists of an absolute return equity fund with daily liquidity. Capturing alpha through stock selection, offering exposure to increasing markets and generating positive returns in times of market correction form the performance drivers of the fund.
The strategy is run by BNPP AM’s global equity team, headed by Simon Roberts, the firm’s chief investment officer for global equities.
A bottom-up stock selection approach is applied by the team, relying on fundamental analysis to identify stocks that offer financial sustainability at a reasonable price.
Commenting on the launch of the fund, Roberts, CIO of global equities at BNPP AM, said: “We are very pleased to have launched Parvest Global Equity Absolute Return Strategy, which capitalises on the global equity team’s considerable experience of working together managing money and risk through different market cycles and conditions, as well as leveraging BNP Paribas Asset Management’s extensive global network of equity investment professionals.
“Our experience of managing similar strategies and our ability to demonstrate that we can protect capital and generate alpha in a range of market environments is attractive to investors looking for diversification and to avoid market fluctuations. With the appetite for Ucits-compliant absolute return products continuing to strengthen, Parvest Gears enables a wider range of investors to access our strategy and investment processes.”
BNPP AM managed and advised €571bn of assets as at 30 September 2017.