Capital Group, which manages $1.4 trillion (€1.3 trillion) of assets, is to launch its US-based New World emerging market strategy into Europe.
The firm has launched a Luxembourg fund – the New World Fund – for the strategy, which Capital originally launched in the US in 1999, where it has raised $26 billion of assets.
The New World Fund will be the third fund launched as part of Capital’s plan to make some of its investment strategies from the US available to European investors.
The strategy – which has achieved a return of 7.4% per annum in dollars over its lifetime – has a “flexible, domicile-agnostic approach” that “looks beyond traditional geographic boundaries to capture the growth potential of developing economies”. It combines local and global multinational businesses.
Previous funds that Capital launched into Europe are the New Perspective Fund, which has gathered over $500 million of assets, and Capital Group Investment Company of America in June this year.
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