Santander Asset Management (SAM) is reinforcing its investment offering with the launch of a funds range following a manager of managers approach.
The Spanish manager has launched Santander GO, a global strategy comprising five different funds mandated each of them to international management firms.
Absolute return, US equity, global equity, global flexible fixed income, and US short-term fixed income are the five asset classes in which the funds invest respectively, which will be managed by Amundi, Morgan Stanley, Robeco, JPMorgan and Pimco.
Santander GO Absolute Returnwill be managed by Amundi; Santander GO North American Equity by Morgan Stanley; Santander GO Global Equities ESG by Robeco; Santander GO Short Duration Dollar by JP Morgan, and Santander GO Dynamic Bond Fund by Pimco.
"After a thorough due diligence process, SAM has selected what they believe are the best specialists in each of the categories (absolute return, US equity, global equity, global flexible fixed income and US short-term fixed income) to complement SAM's management capabilities," the company said in a note.
The firm also said that it has defined each product to fit the profile of its clients and will have control over the risks of each vehicle. In turn, the third party managers will be responsible for the day-to-day management of the fund, including investment decisions and order execution.
The Santander GO range is being launched in Luxembourg for easier global distribution across Santander Group's geographies while also allowing the creation of local vehicles subject to local regulations.
Mariano Belinky, global chief executive officer of Santander Asset Management, said: "With this initiative, we can offer our customers the best options in asset types which require greater specialisation for efficient management and will help our positioning not only where we're already a leading management firm but also in other more global asset classes meaning that our customers will benefit from global macro movements without giving up profit."