German-based asset management house Assenagon has announced the rebranding of its Substanz Asien fund to now include Australian stocks in its portfolio.
As of 22 August, the fund will now be renamed Assenagon Substanz Asien Pazifik.
The fund, which launched in March 2015, invests in a portfolio of 50 stocks based on their anticipated dividend payments over the next three months. All holdings are equally weighted, sector and country weightings are capped in order to ensure diversification.
The existing target countries Hong Kong, China, Japan, Singapore, South Korea and Taiwan will remain in the fund’s investment selection universe.
“By including Australia, we are adding a leading industrial nation with excellent credit standing which has strong economic ties to the Asian continent”, explained portfolio manager Daniel Jakubowski, who manages the fund with Dorian Ruffini.
“The individual country weights within the fund will be reduced accordingly, offering investors even more efficient risk spreading”, added Ruffini.