France’s Parvest has launched an absolute return strategy to offer investors lower correlations in stock markets at a time when stocks are considered to be expensive “on a range of measures”.
The firm, which is part of BNP Paribas Asset Management (BNPP AM), is offering the Parvest global equity absolute return strategy, known as Parvest Gears, meaning the portfolio targets positive returns through market cycles.
It is managed by BNPP AM’s global equity team, which is headed by Simon Roberts.
Roberts said the team had experience of managing similar strategies. He said the fund could protect capital and generate alpha in different market conditions and that this was an attraction 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,” Roberts said.
The strategy is housed in a sub-fund of the Parvest Luxembourg-domiciled Sicav.
BNPP AM has €571 billion in assets under management.
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