Wells Fargo Asset Management has launched the US Select Equity Fund (the fund), which will be managed by Chicago-based Richard (Dick) T Weiss and his team of US equity investment experts.
Weiss is a managing director and senior portfolio manager for the Select Equity team at Wells Capital Management, one of the affiliated investment advisory companies within Wells Fargo Asset Management. He has had a very successful 40-year career managing US equity portfolios.
The investment approach for the US Select Equity Fund, a new sub-fund for the Luxembourg-domiciled Wells Fargo (Lux) Worldwide Fund, is a style-neutral, all-cap strategy. The fund will invest principally in the equity securities of approximately 30 to 40 US companies, of any market capitalisation, that the team believes will offer the potential for capital growth. Mr. Weiss has employed the US Select Equity strategy in institutional separate accounts since its inception in December 1996.
Ludger Peters, managing director, international business development, Wells Fargo Asset Management, says: “We are pleased to offer US Select Equity to our growing international client base and to diversify our product lineup by adding a fund with substantial exposure to US securities across the market capitalisation spectrum. Led by a proven veteran manager, we believe this opportunity will reach capacity very quickly”.