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Swiss & Global unveils raft of equity fund mergers

Swiss & Global unveils raft of equity fund mergers

Ten funds operated by Swiss & Global Asset Management are set to be merged into five new strategies as the company seeks to streamline and improve its global equity fund line-up.

The Zurich-based group intends to make the changes to the funds by the end of November, which will include renaming, refocusing the investment strategy and, in some cases, changing fund managers.

In a statement announcing the changes, Swiss & Global Asset Management said: ‘The change demonstrates Swiss & Global Asset Management’s clear focus on enhancing the active management of its funds.’

‘The higher volumes of the merged funds will increase the cost efficiency for investors. Swiss & Global Asset Management is convinced that in optimising its fund offering, it will be able to give investors an even more attractive equity fund range.’

It has focused on combining funds which already have a similarity in strategy or approach. The five new funds are as follows:

  • JB Europe Focus Fund

This fund will be formed from merging the Julius Baer EF Europe Selection fund into the Julius Baer EF Europe Stock fund, It will hold between 30-35 positions and be managed by Can Elbi, who ran both of the funds in the former guise.

  • JB Asia Focus Fund

This move will see the Julius Baer EF Asia Stock fund rolled into the Julius Baer EF Chindonesia fund under the management of Jian Shi Cortesi and Vincent Lagger.  It will be benchmarked against the MSCI AC Asia ex Japan.

  • JB Eastern Europe Focus Fund

The merger of the Julius Baer EF Black Sea fund into the Julius Baer EF Central Europe Stock fund will lead to a wider focus on Central and Eastern Europe investment strategy.

Management of the fund will be taken on by Erdinç Benli, who was recently named head of emerging market equity. Andrzej Blachut, the current manager of the JB Central Europe, Africa Opportunities and Northern Africa funds, is set to depart Swiss & Global.

  • JB Africa Focus Fund

Swiss & Global intends to merge the Julius Baer EF Africa Opportunities fund into the Julius Baer EF Northern Africa fund. Lead managers on the fund will be Tommaso Bonanata and Erdinç Benli.

The new approach will operate with a keen country-by-country focus and be benchmarked against the DJ Africa Titans 50 index.

  • JB Health Innovation Fund

Finally, the firm intends to combine its existing Julius Baer EF Health Opportunities fund and Julius Baer EF Biotech fund into one new strategy, which will combine top down and bottom-up selection across the healthcare industry.

It will be co-run by Nathalie Flury and Christophe Eggmann and be benchmarked against the MSCI World Healthcare index.

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