New Products
SYZ Seeks To Broaden Funds Appeal In UK Through Merger
SYZ Asset Management, the asset management arm of the Swiss banking group SYZ & Co, has merged two of its funds merged two of its funds to take advantage of the new UK regulatory regime and to tap into a wider investor base, building on the drive to raise its UK profile as recently set out to this publication.
SYZ Asset Management, the asset management arm of the Swiss banking group SYZ & Co, has merged two of its funds to take advantage of the new UK regulatory regime and to tap into a wider investor base, building on the drive to raise its UK profile as recently set out to this publication.
The firm said it was putting together its SYZ AM (Lux) Absolute
Return Institutional fund with its UCITS UK-registered OYSTER
Absolute Return vehicle.
Previously, the SYZ AM (Lux) – Absolute Return Institutional
funds were only available to institutional investors. The merger
with the UCITS UK-registered OYSTER Absolute Return funds will
make this proven strategy available to a wider investment public.
In particular, a GBP retail share class will now be offered.
SYZ AM said that absolute return strategies are appealing in
today’s environment of low interest rates and high equity prices
and can be well suited to both pre- and post-retirement
investors. The OYSTER Absolute Return funds are invested
long-only and the use of derivatives is limited to hedging of
positions.
The OYSTER Absolute Return funds are managed in-house by the
multi-asset investment team, which comprises Fabrizio Quirighetti
(head of multi-asset), Roberto Magnatantini (head of global
equities), Jérôme Schupp (head of research) and Adrien Pichoud
(economist).
The strategy, which totals €1.2 billion ($1.34 billion) in client assets, was initially launched in 2003 through segregated sterling mandates for UK institutional clients. The objective of the fund is to deliver a return of LIBOR + 200 basis points net of fees over a cycle, with a volatility below 3 per cent. In fact it has delivered an annualised performance of +4.7 per cent since fund launch, and a volatility of 2.89.
