Boston-based investment house Eaton Vance has launched an Ireland-domiciled defensive equity fund that aims to provide favourable absolute and risk-adjusted performance relative to the MSCI All Country World Total Return index (MSCI ACWI).
The Ucits-compliant Eaton Vance International (Ireland) Parametric Global Defensive Equity Fund currently has over $200 million (€178 million) in commitments, of which over $70 million was invested at the fund’s inception last month.
The fund’s portfolio managers are Jack Hansen, Thomas Lee and Alex Zweber.
The company says that the fund is designed to produce the strongest relative performance when the MSCI ACWI Index is experiencing negative returns.
“Given ongoing uncertainty in the global markets, we are pleased to offer clients a strategy that follows a disciplined and systematic process which is structured to deliver results in down and sideways markets,” said Hansen.
“We believe this may help clients reduce the magnitude of drawdowns and recover faster from stress events.”
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