Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

Nemesis to merge weak Europe fund into stellar global strategy

Nemesis to merge weak Europe fund into stellar global strategy

Nemesis Asset Management is to merge away its underperforming Global Value fund by combining it with its European Value fund.

The European fund has returned a top-quartile 36% over the past three years, while the global one has produced a bottom-quartile 13% through the period. Both are managed by George Nadda.

The European fund currently has £15.9 million of assets under management (AUM), while the global fund runs less than £5 million.

‘In the investment manager’s opinion, the merging fund’s AUM is now too low to allow the fund to be managed efficiently,’ Nemesis stated.

‘Following the merger, however, the resulting AUM should make the existing fund more cost effective and economical.’

Nemesis will bear the legal, advisory and administrative expenses incurred by the merger, while the costs of re-aligning the portfolio will accrue to the European fund.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Your Business: Cover Star Club

Profile: The opportunity set that attracted Brett Williams to wealth management

Profile: The opportunity set that attracted Brett Williams to wealth management

Brett Williams is best known for helping to build some of the biggest platforms in the IFA market.He made the move over to wealth management to head SEI’s UK business earlier this year in the belief that this is where the best opportunities now lie.

Wealth Manager on Twitter