Wells Fargo Asset Management has launched a global equity absolute return fund, broadening its UK product range.
The Ucits fund aims for long-term capital appreciation and a positive return regardless of market conditions.
Analytic Investors is sub-advising the strategy with the company's Harindra de Silva, Dennis Bein and David Krider running the fund.
The fund will carry a 0.75% management fee, 1% total expense ratio and 20% performance fee with 4% hurdle and high-water mark.
Managing director of international business development at Wells Fargo Asset Management Ludger Peters said: ‘We continue to build out our international product line-up using the expertise and time-tested investment process of Analytic Investors.’
‘Analytic Investors now sub-advises three WFAM international funds, which we think allows our clients to have access to greater investment capabilities as well as competitive solutions to help them reach their financial goals around the world.’
Wells Fargo has been increasing its presence in the UK this year, notably with a number of hires from Schroders’ multi-asset team.
These followed the arrival of Dan Morris, ex-head of US portfolio at Schroders, who joined as global head of portfolio solutions within Wells Fargo’s multi-asset solutions team in late 2017.