Former EM equity star’s BRICs fund overhauled Danish investment firm Sydinvest has expanded the mandate of former Citywire AAA-rated manager Pauli Laursen’s BRICs-focused equity fund. The change sees Laursen step down from the former ISI BRIC Equities fund, which has been renamed and had its investment philosophy altered. The Denmark-domiciled fund, which is available for sale in five markets across Europe, was launched in 2004 to tap opportunities in Brazil, Russia, India and China. The new lead manager on the fund is Jesper Engedal, who will now be able to invest across the whole range of emerging market countries, as well as frontier markets. This has seen the fund renamed the ISI Global EM Equities fund. It will focus on opportunities deemed to have strong growth potential. In fund literature, Sydinvest stressed the fund remains a high-risk approach that will see return greatly depend on economic and political developments in the investment countries. The change formally came into effect on 1 September and sees the fund benchmarked against the MSCI Emerging + Frontier Markets unhedged to EUR. While it transitions to the new mandate, the fund remains largely focused on the BRIC markets, with Brazil (24.9%), China (24.6%), India (23%) and Russia (20%) the largest current allocations. The ISI BRIC Equities fund lost 4.8% in US dollar terms over the three years to the end of August 2014. Its Citywire benchmark, the LCI MSCI Brazil Russia India China (25: 25: 25: 25), rose 6.18% over the same period.
Posted on: Fri, 05 Sep 2014 08:41:02 +0000
Trending Topics
Recently Viewed Topics
© 2015