Threadneedle, the UK fund manager, is to extend its distribution into new Asian and European markets following completion of the restructuring of the World Express Luxembourg Sicav fund range.
The fund manager acquired the Sicav funds when bought Standard Chartered’s asset management business in May and, having now carried out a series of changes to mandates and managers, will seek to "gain a foothold" in selected new markets in Europe and Asia, where Taiwan will be an initial focus.
Threadneedle said it had taken on direct management of 16 of the former World Express funds in which it had existing investment expertise, while seven funds investing in asset classes where Threadneedle does not have a track record or resource will continue to be managed by sub-advisers.
Portfolio changes
The review of the range also included the re-naming of certain portfolios and the modification of various investment objectives to better reflect the overall fund approach and manager strategy, said Threadneedle.
William Lowndes, head of distribution for Asia at Threadneedle said: “We’re delighted to finalise our SICAV offer, which marks the start of an exciting period of growth in Asia. In particular, it provides us with an immediate entry into the Taiwan market where we see a great opportunity for our investment skills.
“We believe in providing our clients with a full range of investment strategies featuring core and alternative asset classes in markets around the world. This is why Threadneedle’s SICAV platform will offer our established in-house investment expertise, complemented by a select group of focused investment portfolios managed by highly regarded sub-advisers.”
Threadneedle said the Sicav – the preferred investment structure for European and Asian investors – would help it gain a “foothold” in those markets.
Sub-advised portfolios
Portfolio Sub-adviser
Italian Equities Aperta SGR
European Quantitative Equities MC Gestioni
US Dynamic Equities New Castle
Global Bonds (US$) RiverSource
US$ High Income Bonds RiverSource
Global Energy Equities RiverSource
US Equities Walter Scott
