Wells Fargo AM is launching a Global Equity Absolute Return fund to extend it’s international range of UCITS compliant funds.
The fund is a sub-fund of the Wells Fargo (Lux) Worldwide fund and is available to both institutional and retail investors.
The new fund aims to achieve long-term capital appreciation and an absolute, or positive, return regardless of market conditions, the company said in a statement announcing the launch. The fund is sub-advised by Analytic Investors – the third fund that Analytic Investors sub-advises for WFAM international funds – and is co-managed by Harindra de Silva, Dennis Bein and David Krider.
De Silva is an industry veteran with 30 years of investment experience, as is Bein with 26 years. Krider also has 14 years of investment experience.
Ludger Peters, managing director of International Business Development, said: “We continue to build out our international product line-up using Analytic Investors. The team is widely recognised for a commitment to innovative investment research, disciplined quantitative methods and an ability to implement sophisticated trading and portfolio management strategies, which are increasingly important in a complex global market.”
The fund is currently available in Austria, Finland, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Norway, Spain, Sweden and the United Kingdom, with anticipated future registrations in Hong Kong, Portugal, Singapore, South Korea and Switzerland, WFAM said.
The fund’s investment strategy considers developed markets to include countries included in the MSCI World Index. The fund may have a long equity exposure of up to 100% of its net assets and a short equity exposure (achieved through the use of swap agreements and other types of derivatives) of up to 80% of its net assets.