Wells Fargo Asset Management (WFAM) has introduced a new global equity absolute return fund for retail and institutional investors, which aims long-term capital appreciation and positive return regardless of market conditions.
The new strategy, dubbed Global Equity Absolute Return Fund, is a sub-fund of the Wells Fargo (Lux) Worldwide fund and is sub-advised by Analytic Investors.
The UCITS-compliant strategy can have long equity exposure of up to 100% of its net assets. The short equity exposure, achieved through the use of swap agreements and other derivatives, is capped at 80%.
The fund will be managed by Harindra de Silva, Dennis Bein, and David Krider.
The new vehicle is currently available in Austria, Finland, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Norway, Spain, Sweden and the UK. Plans are on for a broader roll out in Hong Kong, Portugal, Singapore, South Korea and Switzerland later.
WFAM managing director of international business development Ludger Peters said: “We continue to build out our international product line-up using the expertise and time-tested investment process of 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.”