Syz AM merges EM equity fund into global equity fund

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Syz AM merges EM equity fund into global equity fund

Geneva-headquartered Syz Asset Management has merged the Oyster Emerging Opportunities fund into the Oyster World Opportunities fund, InvestmentEurope has learned.

The move took place on 18 May 2018.

The fund, launched in July 2010, had been sub-managed by Mark Webster and John Chisholm, senior portfolio manager and co-CEO/CIO at Acadian Asset Management respectively.

In a statement to InvestmentEurope, Syz AM said: “Sub-managed by an external asset manager, Acadian Asset Management LLC, the Oyster Emerging Opportunities fund had posted positive absolute performances over time, through its implementation of a differentiated high-conviction stock-picking investment strategy.

“However, the fund’s structural bias for energy-related countries, as well as for capping allocation to countries with larger weights within the reference market, was ultimately a detractor of asset growth.

“On account of the fund’s smaller size and limited investor appetite, the decision has been taken by the fund’s board of directors to merge the assets of the fund into the Oyster World Opportunities fund.

“The merger of the two funds will give investors in the current Oyster Emerging Opportunities fund access to a global – developed and, to a certain extent, emerging market – well-diversified, all-cap portfolio.”

Part of Syz AM’s CHF6bn Oyster Ucits fund range, the Oyster World Opportunities fund is run by Roberto Magnatantini since November 2008. Assets in the fund were amounting to €124.86m as of end May 2018.

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