BNP Paribas Asset Management has launched a global equity absolute return fund following increasing demand for strategies with low correlation to the underlying market.
The Parvest Global Equity Absolute Return Strategy (Parvest GEARS) is managed by Simon Roberts, BNPP AM’s CIO of global equities, and his global equity team.
The team uses a bottom-up stock selection approach for the new strategy, which is registered in Luxembourg.
Commenting on the new launch, Roberts said: ‘Our experience of managing similar strategies and our ability to demonstrate that we can protect capital and generate alpha in a range of market environments is attractive to investors looking for diversification and to avoid market fluctuations.
‘With the appetite for Ucits-compliant absolute return products continuing to strengthen, Parvest GEARS enables a wider range of investors to access our strategy and investment processes.’
In summer 2017, BNP Paribas AM closed one of its dividend-focused global equity funds, the Parvest Equity High Dividend World Classic Cap fund, which Roberts once managed, due to a lack of assets under management.