Martin Currie is to offer an offshore version of its top decile Asia Pacific fund early next year. ...
Martin Currie is to offer an offshore version of its top decile Asia Pacific fund early next year.
Part of the Global Fund range and managed by Jason McCay and Richard Evans, who also run the Oeic version, the fund will invest in Asian and Pacific markets, excluding Japan.
Launching in March, it will seek above- average returns on a rolling three- and five-year basis with a target tracking error of between 6% and 9% a year.
McCay, who also heads up Martin Currie's Asia Pacific and global emerging markets team, will adopt a flexible and pragmatic investment approach together with Evans, with the aim of returns being driven by stock selection.
With no long-term bias to value or growth, the managers will use a stock screening system called the dynamic stock matrix (DSM) to select stocks that grow faster than the market and exhibit positive change.
The fund will invest in 45 holdings across eight countries and will be able to take conviction positions of 5% above the index weighting. Between 60% and 70% will be invested in this way with the remainder of the fund closely correlated to the index.
The minimum investment in the Asia Pacific Sicav, which will levy charges of 5% initial and 1.5% annual, is £5,000. Initial commission of 3% is available in addition to renewal of 0.5%.
Meanwhile, Martin Currie is changing the name of its Pan-European Mid Cap and Pan-European Sicav funds to Pan-European Opportunities and Pan-European Alpha in January and February 2007 respectively.
Andy Sowerby, director of marketing at Martin Currie, said the changes were being introduced to better reflect the funds' investment styles and objectives.
"These names will give investors a better sense of the management style, bringing them into line with other products launched in this space," he said.
"The Pan-European Opportunities fund is now a multi-cap portfolio with a small- to mid-cap bias, while the Pan-European Alpha fund now targets an alpha of 3% to 5 % above the index."
Martin Currie launches offshore Asia Pacific fund
Fund to be managed by Jason McKay and Richard Evans
Pan-European Mid Cap and Pan European Sicav funds renamed
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