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Comgest to merge away equity trio’s Europe fund

Comgest to merge away equity trio’s Europe fund

French asset manager Comgest has informed shareholders of plans to merge its Comgest Europe fund into the larger Comgest Growth Europe strategy.

The move, which is subject to shareholder approval, would come into effect on 16 June 2015.

Both funds are run by the Citywire + rated fund manager Franz Weis, Arnaud Cosserat and Laurent Dobler.

The trio has co-run the Luxembourg-domiciled Comgest Europe fund since Cosserat was added to the line-up in late 2012. Dobler has been on the fund for a decade, while Weis was assigned in October 2009.

According to the latest fund factsheet, the Comgest Europe fund currently operates a concentrated portfolio of 34 stocks and has CHF 103 million (€99 million) in assets under management.

Meanwhile, the fund managers have worked on the Comgest Growth Europe fund, which has €1.89 billion in assets and is domiciled in Dublin, since Weis and Cosserat were named as co-managers to Dobler in late 2009.

A spokesperson for Comgest confirmed the merger of the two funds and said, as both funds were run in parallel by the same team, there is no real change in approach.

Over the three years to the end of April 2015, the Comgest Growth Europe fund returned 66.3% in euro terms, while the Comgest Europe fund returned 66.75%.

Both of the funds are benchmarked against the FTSE World Europe TR EUR in the Citywire database. This index rose 67.71% over the same 36 month analysis period.

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