The latest news on investment offerings, financial products and other services relevant to wealth advisors and their clients.

Turtle Creek
Turtle Creek Asset Management, a Canadian business, has launched its first UCITS fund. The fund gives European clients access to Turtle Creek’s North American mid-cap public equities strategy.

The UCITS fund portfolio, consisting of 35 to 40 holdings, is constructed from more than 100 companies that the firm actively follows, and is managed according to the same cash flow-based value investing strategy and continuous optimization process which the business has employed for more than 20 years.

Turtle Creek, based in Toronto, was established in 1998 by Andrew Brenton, Jeffrey Cole and Jeffrey Hebel. Prior to Turtle Creek, they founded and ran the private equity investment subsidiary of The Bank of Nova Scotia. The business manages mid-cap public equity portfolios with a combined value of almost $3.5 billion.

Janus Henderson 
Janus Henderson, the US-listed group, has launched a sustainable US equity fund in the form of an open-ended investment company.

The Janus Henderson US Sustainable Equity Fund OEIC, aims to provide long-term capital growth for investors by investing in US companies whose products and services are contributing to positive environmental or social change. 

The fund will be available in the UK to retail, wholesale and institutional investors.  

Hamish Chamberlayne and Aaron Scully manage the fund. Chamberlayne has been lead manager of the Janus Henderson Global Sustainable Equity Fund, Janus Henderson’s flagship sustainability fund, since 2013, while Scully became co-portfolio manager in 2019. 

The Janus Henderson Global Sustainable Equity Fund was first launched in 1991. The entire strategy underpinning these funds now comprises five funds globally and, at the end of June 2022, it had $3.1 billion of total AuM. It generated annualised returns of 13.7 per cent vs 10.8 per cent against the benchmark over the last ten years.

Concordium
Saxo Bank founder Lars Seier Christensen has invested an added €10 million ($9.84 million) into Switzerland-based Concordium, the blockchain ecosystem which he chairs. 

The funds will be used to finance projects aiming to build on or integrate digital apps on the Concordium chain. A large area of growth for blockchain technology is funding projects related to decentralised finance (“DeFi”), gaming, the metaverse and various industrial applications. 

All projects funded will also be able to obtain commercial and marketing support from Concordium, the group said in a statement earlier this week. 

Christensen, who was interviewed a few weeks ago by this news service, is putting money into the space even while some “digital assets,” such as bitcoin, have seen their prices slump this year. 

“I believe we are so early, and so undervalued, that despite all of the news of a recession, there is still great potential for incredible products with revolutionary, concrete real-world applications,” Christensen said of his latest investment.

Concordium describes itself as a “permissionless layer 1, science-backed blockchain” which balances privacy with accountability through its ID layer and the use of zero-knowledge proofs.