French asset manager Amundi has introduced a new equity fund range that aims to achieve long-term capital growth by incorporating the multi-factor allocation process. Part of the firm's smart-beta platform, which manages over EUR 19 billion in assets, and supported by Thierry Roncalli, head of quantitative research at Amundi, the funds aim to enable investors to capture factor risk-premia by offering exposure to three equity markets; eurozone, Europe and global. The new fund range comprises Amundi Funds Dynamic Multi Factors Euro Equity fund, Europe Equity fund and Global Equity fund which will be benchmarked against the MSCI EMU index, MSCI Europe index and MSCI World (dividend reinvested) index, respectively. The funds carry an ongoing charges figure of 0.51 percent.
Tilney has reduced the number of funds it holds in its portfolios from 70 to 30. The wealth manager said that it had also significantly culled the number of funds to which it applies advance screening for selection from 500 down to just 130 a year ago. This reduction was driven in part to the company merging with Towry and Ingenious, but was also due to many equity fund managers failing to outperform the benchmark. Baillie Gifford Japan and AXA Framlington UK Smaller Companies are examples of funds that remain present in the portfolios.
Societe Generale Prime Services has launched a new SG Multi Alternative Risk Premia Index, a performance benchmark for alternative risk premia managers who employ investment programs diversified across multiple asset classes and multiple risk premia factors. The new Multi Alternative Risk Premia Index is the fifth daily index designed and calculated by Societe Generale. The indices calculate the daily rate of return for an equally weighted group of managers that are open to new investment and provide daily data. The new Multi Alternative Risk Premia Index became effective as of 1 January 2018 and includes the ten largest qualifying multi alternative risk premia managers. The constituents manage investment programs that are diversified across multiple asset classes and multiple risk premia factors. These managers often trade equity indices, fixed income, currencies, commodities, and single name equities. The managers aim to systematically capture a diversity of discrete risk premia, including value, carry, momentum, and equity style premia. The SG Multi Alternative Risk Premia Index will commence with two years of performance history at inception, calculated by using a walk-forward qualification process identical to the methodology used in the selection of the 2018 constituents.
Jupiter Fund Management reported net inflows of £0.6 billion three months to 31 December 2017, resulting in a total £5.5 billion of net inflows in the year to 31 December 2017 (2016: £1.0 billion). Some £5.1 billion of net flows went into the firm's mutual funds across a range of investment strategies. These positive flows helped drive a 24 percent increase in assets under management (AUM) over the year to £50.2 billion at 31 December 2017. Total AUM increased during the quarter as a result of positive inflows and investment returns in mutual fund and segregated mandate channels. Following new fund launches in March (Global Emerging Markets Corporate Bond Fund), May (Emerging & Frontier Income Trust) and September (Global Emerging Markets Short Duration Bond Fund), the Global Levered Absolute Return Fund was launched in October. In November the Dividend & Growth Trust was closed, resulting in net outflows from the investment trust channel, however a proportion of the clients chose to transfer into the UK Growth Trust.