View the article online at http://citywire.co.uk/money/article/a602792
Wells Fargo marks UK push with six-strong fund launch
Wells Fargo Asset Management is making a push into the UK retail market with the launch of six new funds, expanding its stable of funds to 12.
Wells Fargo Asset Management is making a push into the UK retail market with the launch of six new funds expanding its stable of funds to 13.
The asset manager, whose roots lie in the US, has launched an Emerging Markets Income and Growth fund, run by Anthony Cragg and Alison Shimada, alongside a second emerging markets fund for Jerry Zhang and Derrick Irwin and a Precious Metals fund, run by Michael Bradshaw and Oleg Makhorine.
It is also making its Global Opportunity Bond fund available to UK investors, alongside the US Premier Growth and US Short-Term High Yield Bond funds. All of the sub-funds are available through the Wells Fargo (Lux) Worldwide fund.
Andrew Owen, executive vice president at Wells Fargo Asset Management, said the firm had opted to expand its presence in the European asset management marketplace in the hope of tapping into a faster growth rate than that of the US.
'In the past 18 months, we have witnessed meaningful growth in both assets and clients investing in our existing fund range. The addition of these six funds will allow UK and European clients access to more of our established portfolio management teams and provide them with fund options that have the potential to serve as valuable complements to their existing investments,' he added.
The firm has around $445 billion in assets under management and has over 35 portfolio management teams across the world.
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by Gavin Lumsden on Apr 21, 2014 at 08:00