BNP Asset Management is to start promoting its 35 Sicav funds to the UK market, writes James Thornel...
BNP Asset Management is to start promoting its 35 Sicav funds to the UK market, writes James Thorneley.
This follows the arrival of Tony Maddock as head of business development at BNP. He was previously head of intermediary sales at the Prudential and left following the merger with M&G.
He said: "We are going to be targeting the top end of the IFA market. The funds do not carry any commission and are aimed at discretionary fund managers."
The promotion will particularly focus on BNP South Asia Access fund. The fund invests predominantly in India, and exposure to this market makes up 99.8% of the portfolio, the balance is made up of other countries in the region, such as Bangladesh, Pakistan and Sri Lanka.
There is no initial charge but subscription commission of up to 5% is available. The annual fee is 1.75% of NAV.
The $23m fund is domiciled in Mauritius but managed in London by Avinash Vazirani.
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