Asset management firm Nordea has bolstered its ‘Stars’ fund range with a new global equity strategy, Citywire Selector understands.
The Nordea 1 - Global Stars Equity fund is Luxembourg domiciled and was launched to little fanfare on May 17.
It will sit alongside the Nordic group's other 'Star' funds, which includes Nordea 1 - Emerging Stars Equity fund and the Nordea 1 - Nordic Stars Equity funds, as well as the Nordea Swedish Stars fund, which is aimed at Sweden-based investors.
The fund will be managed by Johan Swahn, who quit Skagen to join Nordea after just nine months with the Stavanger-based group, and fund manager Daniel Ovin.
This launch comes at a busy time for the firm after having recently soft-closed its Nordea 1 - Stable Long/Short Equity fund which had €1.13 billion in assets under management. In addition, the last month the firm also launched a new US bond fund for bond manager Jeffrey Gundlach.
The fund’s prospectus indicates the fund will provide shareholders with long-term capital appreciation by investing in global equities.
This is while the objectives of the fund intend to focus on a company’s ability to comply with international standards for ESG and to use this actively in the investment process. It will invest globally and is set to invest a minimum of three fourths of its total assets world-wide in equities and equity related securities.