This week London based ETP provider Source announced that it had partnered with Ashmore to launch the manager’s first funds in Europe. Ashmore is a specialist active investment manager with more than 20 years’ experience in emerging markets.
“Source focuses on identifying investors’ needs and then searching for ‘best in class’ solutions to meet those needs,” explained Michael John Lytle, Chief Development Officer at Source. ”Investors wanting to diversify and pick up additional yield are looking beyond developed markets. Ashmore is one of the very few managers solely dedicated to Emerging Markets and with a very long and successful track record. Investors will now be able to access their expertise in active management while benefiting from the intra-day trading, liquidity and increased transparency of Source’s ETF structure.”
The Ashmore Source UCITS ETFs are new share classes of the Ashmore SICAV. The Ashmore SICAV Emerging Markets Total Return Fund provides an active approach to allocating between Emerging Market corporate bonds, sovereign local currency and US dollar denominated debt, aiming to take advantage of opportunities that arise throughout the market cycle. The Ashmore SICAV Emerging Markets Corporate Debt Fund provides more focused exposure to the corporate bond sector, where spreads over the developed market corporates are at attractive levels. Both funds are invested physically in a diversified portfolio of bonds and are managed actively.
“Despite their huge potential, strong growth prospects and favourable fundamentals, Emerging Markets remain significantly under-represented in most investors’ global asset allocation. As an active manager with over 20 years’ experience in Emerging Markets, a key objective is to make the wealth of Emerging Market opportunities more readily available,” said Christoph Hofmann, Global Head of Distribution at Ashmore. “We are therefore delighted to partner with Source to provide investors with an additional easy and efficient way to access our existing mutual fund strategies through an actively managed ETF share class.”
Anavon Capital has launched the Anavon Global Equity Long/Short UCITS fund on the Alpha UCITS Platform. The fund will be run pari passu with Anavon’s global long/short strategy.
Tages Capital has acted as day one investor, ensuring the UCITS fund has critical scale at launch. Anavon Capital is a London-based hedge fund manager with a successful track record since January 2011 in managing its global equity long/short strategy. The firm was co-founded in 2010 by Avraham Mevorah and Avi Fruchter.
Prior to co-founding Anavon, Mevorah was a partner at Fortelus Capital and Fruchter was a partner at Attara UK.
Tages Capital is an alternative multi-manager solution business, 60 per cent owned subsidiary of Tages Group, with approximately over USD3.5bn of assets under management and advisory. The company has been operating since 2011 and has increased its AUM at a double-digit rate in the first three years of operation.
Alpha UCITS Ltd. is a London based company founded in 2009 by Stephane Diederich, formerly a partner at Brevan Howard Asset Management.
Salvatore Cordaro of Tages Capital said: “We are excited by this strategic relationship with Anavon and to add the Anavon Global Equity Long/Short UCITS fund to our investment portfolios with the help of the Alpha UCITS platform. Alternative UCITS are a strategically important and fast growing part of our business and we believe that Tages can provide significant value to its investors by seeding successful hedge fund strategies in UCITS vehicles.”
Justin Denham, chief operating officer of Anavon, added: “Launching a UCITS version of our global equity long/short strategy will be a vital milestone for Anavon. We considered a number of options and decided the proposal offered by Alpha UCITS was by far the best solution. It combines a solid platform with operational expertise that allows Anavon to focus on investment and performance. We are delighted to have Tages as a core investor in our new fund.”
Paris-based CPR Asset Management has selected CACEIS as the asset servicing partner for its inaugural Luxembourg UCITS fund reported Financial Technologies Forum this week. The firm launched two sub-funds on its CPR Invest SICAV at the end of the summer. CACEIS has been appointed to act as depositary and central administrator for the SICAV. CPR has received its management company license by the Autorité des Marchés Financiers (AMF) under the UCITS IV directive.
“The launch of our Luxembourg UCITS SICAV will allow us to speed up the distribution of our funds in Europe and then Asia,” said Jean-François Griveaud, deputy CEO of CPR Asset Management. “This approach is part of our strategy to double the amount of international assets under management. CACEIS is our partner of choice with a strong presence in Europe, and has been working with us for a long time, supporting the development of our business.”