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Evercore in sub-advisory relationship with American Beacon Advisors

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Evercore Asset Management, an institutional money manager specialising in small- and mid-cap equities, has launched a mutual fund, the American Beacon Evercore Small Cap Equity Fund.

The fund seeks to achieve long-term capital appreciation using a fundamental, bottom-up investment approach along with proprietary valuation models.

Chris Fasciano, chief investment officer of Evercore’s small- and mid-cap core team, and Tim Buckley, senior portfolio manager, have primary responsibility for the fund’s day-to-day management.

"American Beacon is very excited to be able to offer Evercore’s specialisation in value-oriented investments in small- and mid-cap companies," says Gene L. Needles Jr., president and chief executive of American Beacon Advisors. "Coupled with our own deep industry experience and relationships, this partnership reflects our ongoing commitment to providing a wide variety of investment opportunities for the benefit of our clients."

The Fund will select securities of companies with market capitalisations of USD3bn or less at the time of investment, which it believes are selling at a discount to their underlying value and have the potential to outperform their benchmark.

It seeks securities of companies that are at the low end of their historical valuation range, have business catalysts that will cause other investors to recognise the undervaluation and are led by management teams that can execute the company’s plans and realise the company’s growth.

"Evercore makes high-conviction investments by applying rigorous independent thinking and in-depth research focused strictly on the fundamentals. We are very pleased to provide our approach to identifying inherent value to American Beacon’s clients," says Fasciano.

American Beacon Advisors manages the American Beacon Funds, a series of mutual funds representing a variety of investment strategies for the equity, fixed income, domestic and international markets.

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