Global asset manager TCW, with more than $197bn (€177bn) of AUM, has further strengthened its presence in Italy and Spain, thanks to the authorization of the Luxembourg Sicav TCW Funds.
The move will allow TCW to offer to institutional investors (pension funds, funds of funds, fund selectors, family offices) a further access to its strategies.
On the other hand, this move signals the willingness to get closer to distribution partners, entering in the private bank mandates and in the insurance units linked.
Among the strategies available through the TCW Funds Sicav, are the MetWest Total Return Bond fund, which is the European counterpart of the American strategy with more than $70bn in AUM, one of the biggest bond funds in the world; and the MetWest Unconstrained Bond fund, to invest in the fixed income markets.
On the EM fixed income space, TCW’s offering includes the TCW Emerging Markets Income fund which, through a strategy designed in 1994, aims at identifying the best opportunities in an investment universe made up of more than 60 countries and 400 names.
Also, in Italy, the offering includes the TCW Emerging Markets Local Currency Income fund, focused on local currency bonds.
“The authorization of the SICAV is certainly an important step in the process of entrenchment in the Italian market, where our unconstrained bond strategies find a growing interest, in a challenging and complex period like the current one,” said Gian Luca Giurlani, managing director, head of the European Ucits platform and of the Southern Europe development at TCW.
“Next steps will be towards a further expansion of the channels through which Italian investors, both institutional and professional, will be able to access our strategies. Next months will be extremely important,” he added, in regards to the Italian market.