TCW, the US manager with $180bn AUM, is to enter the Italian market by listing six of its flagship funds on Borsa Italiana.
For each fund two classes will be listed, one in euro and the other hedged on the euro/dollar cross.
TCW is the first big player to enter in the Italian market of the active funds listed at Piazza Affari.
The six Ucits funds will be listed on Piazza Affari on October 28 and include three funds focused on the US fixed income with total return or unconstrained strategies (TCW Total Return Bond Fund; MetWest Total Return Bond Fund; MetWest Uncostrained Bond Fund); two Fixed Income on the Emerging Markets (TCW Emerging Markets Income Fund; TCW Emerging Markets Local Currency Income Fund) and a US equity multi-income fund (TCW Multi-Income US Equities Fund).
The TER of these funds oscillates from a minimum of 0.55% to a maximum of 1.00%.
For each fund two classes have been listed, one in euro and the other hedged on the euro/ dollar cross.
“We have chosen this innovative approach because we want to offer to investors the benefits of a real active management, while giving at the same time the liquidity and price advantages of listed instruments.
“We believe that the listing of the active funds will draw the attention in particular of institutionals investors as pension funds, fof managers, funds selectors, family office. But we want also start to collaborate more closely with the private banks and the distribution networks,” said David Lippman (pictured), CEO and President of TCW.
TCW provides a range of products across fixed income, equities, emerging markets and alternatives through institutional mandates and mutual funds.
Among the investors who have chosen TCW there are many of the world’s largest corporate and public pension plans, financial institutions, endowments and foundations, as well as – in particular in the USA – financial advisors and high-net worth individuals.
The company is owned jointly by the private equity The Carlyle Group (60%) and TCW management and employees (40%).
The listing on Borsa Italiana will enable primarily institutional investors but also private clients advised by professionals and self directed investors to access the range of TCW Funds.