Jupiter Asset Management has launched a China equity fund into its Luxembourg Sicav – 10 months after first considering the move.
The London-based fund manager said the China Sustainable Growth Fund would be managed by Philip Ehrmann. It will aim to deliver capital growth through investment in “sustainable environmental, social and economic growth in China,” said Jupiter.
As reported by International Adviser in January, Jupiter had planned to launch a Luxembourg-domiciled China fund for Ehrmann in the first quarter of the year but the prevailing economic and market conditions meant raising investment would have been too difficult.
It has now tweaked the remit of that planned fund – which initially would simply have been an offshore version of Jupiter’s UK China Oeic – to give it a sustainable remit.
Jupiter said: “It will focus on key growth markets within the Chinese economy such as energy, water, agriculture, transport, real estate and construction, waste management and healthcare and education.”
Ehrmann has managed the Jupiter China unit trust since its launch in October 2006. According to Jupiter, the fund has returned 79.96% compared to 69.73% for the MSCI Zhong Hua index – the fund’s benchmark, since then.
Jupiter said the new fund was not intended to be a ‘green’ product, but added Ehrmann would draw on the expertise of its sustainability and governance team, lead by Emma Howard Boyd, to inform his analysis of particular businesses and industries.
The new fund has retail and institutional share classes.
