The quantitative asset manager said the new strategy will seek to “maximise diversification” using a very large investable universe, the MSCI All Countries World Index. The index comprises 23 developed markets and 21 emerging markets and has approximately 2,500 underlying constituents.
TOBAM said the fund, which is domiciled in France with the rest of the company’s fund range, was launched with initial funding of $80m from a “leading European pension fund”.
The firm added that “further significant interest” from other investors suggests the strategy will grow quickly as with its Emerging Market Equity Fund which has an AUM of more than $1bn, three years after launch.
Christophe Roehri, head of business development, said: “In April 2013 we launched a segregated mandate for a large institution with an ‘All Countries’ coverage, for $325m.
“Since then we have worked to produce an open-ended vehicle suitable for a wider client base. In 2014, it is our intention to continue to propose Maximum Diversification solutions to respond to our clients’ evolving needs.”
In addition to the newly launched fund, TOBAM’s Anti-Benchmark equity open-ended funds range includes: All Countries World, Canada, eurozone, France, global developed markets, global emerging markets, Japan, Pacific ex-Japan, UK and US.
The fund offers daily dealing and is Ucits IV compliant. It has a management fee of 1.3%