EFG Asset Management, the investment division of Zurich-based EFG International Private Bank, has selected Oregon-based Mazama Capital Management to act as portfolio manager for a UCITS fund for non-US investors.

The New Capital US Growth Fund will consist of a combination of both mid- and large- cap growth portfolios and will be managed by Mazama's team of 10 equity research specialists under the direction of Ronald Sauer, the firm’s founder and chief investment officer. Along with bottom-up research on fundamentals, also key to the investment process will be Mazama’s proprietary Price Performance Model, which was developed to identify and track the top growth companies in the US equity universe.

“EFG Asset Management's extensive top-down research suggests that investors should be focusing on growth companies. In the current economic environment, companies with good growth fundamentals deserve a premium valuation which they are not given,” Mozamil Afzal, chief investment officer of EFG Asset Management, said in a statement.

Mazama Capital, which was founded in 1993, specialises in growth equity portfolio managements for institutions and has a second office in New York in addition to its Portland, Oregon headquarters.