Asset Management
What's New In Investments, Funds? - Vontobel, AXA, Others

The latest offerings in investments, such as funds, structured products, specific programmes and developments.
Vontobel
Vontobel Asset Management has launched the Vontobel Fund II – KAR
US Small-Mid Cap in partnership with Kayne Anderson Rudnick, an
affiliated manager of Virtus Investment Partners, to provide
investors with access to US small- and mid-cap equities.
The fund aims to generate attractive risk-adjusted long-term
returns by investing in the stocks of US small- and mid-cap
companies with durable competitive advantages, excellent
management, and lower financial risk. The US small-mid cap
universe provides access to almost 3,500 companies.
The fund is domiciled in Luxembourg and its share class is in
dollars. The share class is institutional with a 0.825 per cent
annual management fee.
AXA Investment Managers
AXA
Investment Managers has launched the AXA WF Multi Asset
Optimal Impact fund.
The fund invests in securities “demonstrating a positive social
and environmental impact” while aiming to generate financial
performance based on strong convictions and a flexible approach
to navigate the changing macroeconomic environment more
effectively.
The fund has a particular focus on the environment – especially
climate change – as well as social themes including health and
human capital. It aims to follow the UN's SDGs:
Environment: energy transition – smart energy, sustainable
transport, sustainable industry and resource scarcity i.e.
recycling and preservation; health and wellbeing: personal
security and healthcare solutions; inclusion: financial
inclusion, housing and basic infrastructure, and empowerment:
women, human capital and livelihoods.
The fund can invest from zero to 100 per cent in debt securities,
including inflation-linked, green, social and sustainable bonds,
and from zero to 75 per cent in equities. This leeway could help
to capture growth upside when markets are improving, and may
limit downside risks when markets are in decline, AXA
said.
A mix of quantitative and qualitative filters is applied,
alongside a combination of top-down ESG research and bottom-up
analysis. The fund is run by Serge Pizem, head of
multi-asset at AXA IM, and his team. The fund is part of the
Optimal Income range and 5 per cent of its management fees will
be donated to charities.
SuMi TRUST
Sumitomo Mitsui Trust Asset Management, the Asian asset
manager with more than $626 billion of assets under management,
has launched a new Japanese equities fund for institutional
investors.
The Japan Growth Opportunity fund aims to beat the Japanese TOPIX
index by 4.0 per cent per year by investing in Japanese companies
with high-growth potential. The portfolio will comprise 50-80
listed Japanese equities.
The fund will be managed by Hiroyasu Sato who has 30 years’
experience in the industry. Hiroyasu joined SuMi TRUST in 2019
from a Japanese asset management firm where he managed its
flagship Japanese equity fund, an all-cap growth orientated
strategy for international investors, for seven years.
The fund’s stock selection process will focus on the
beneficiaries of long-term trends in the economy, such as Japan’s
ageing population, combined with a catalyst strategy, picking out
companies that generate momentum through M&A or intelligent
restructuring. The research and selection process will be
entirely bottom-up.
The top holdings of the fund currently include Kikkoman
Corporation, a Japanese food manufacturer, Shoei, a manufacturer
of motorcycle and motorsport helmets, and Nihon M&A Center,
a company providing strategic M&A advice and support services
to small and medium-sized business. The fund is currently
overweight in industrials and information technology services and
is underweight in financial services companies.
Somerset
Somerset
Capital Management, which is a specialist global emerging
markets investment company, has launched an emerging markets
fund, structured as a UCITS entity.
The Somerset Emerging Markets Future Leaders Fund will mainly
invest in medium-sized businesses which derive most earnings in
emerging markets, with a market cap range generally between $750
million and $13 billion.
Co-managers are Edward Robertson and Anthony Linehan.
The new fund will be seeded with about $350 million from the
Swedish National Pension Fund, Första AP-fonden (AP1), a company
which Somerset has worked with since 2013. AP1 was also the seed
investor of the firm’s $60 million Somerset Frontier Markets Fund
in 2018.
Somerset said that the fund, which holds a portfolio of 40-50
companies forming part of the Somerset Emerging Markets Mid Cap
Strategy, was first launched in July 2012; it is co-managed by
Edward Robertson and Anthony Linehan. Companies in the fund have
a typical holding of three to five years. There is daily dealing
in the fund, which is domiciled in Dublin.
Lombard Odier Investment Managers
Lombard
Odier Investment Managers, has launched a new China strategy,
expanding its global high-conviction equity offering.
LOIM’s China High Conviction strategy invests in high-quality
companies with sustainable business models that have the
potential to deliver attractive economic returns over the long
term. The strategy captures several investment themes across a
diversified portfolio of 30 to 50 stocks, balanced across three
buckets (quality value, high growth and corporate events) to
navigate through different market cycles.
The strategy is managed by LOIM’s Asia investment team – the
portfolio managers are Zhikai Chen, Roxy Wong, Odile
Lange-Broussy and Jinwen Ouyang.