Investment management firm AZ Athenaeum is reportedly planning to launch nine Ucits funds in Singapore to expand its presence in Asia.
The products have received approval from the City’s regulator and will be available to accredited investors in Singapore, reported Asian Investor.
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Among the nine funds, eight of them are Ucits versions of existing Azimut funds, and other one is an Asia absolute product, a Ucits clone of Athenaeum’s total returns Asia strategy.
The eight funds include a European balanced fund of equities, bonds and money-market instruments, an Italian multi-asset fund, a European consumer-brands fund, a renminbi active duration management fund, a European corporate bond product.
The Ucits range also includes an offshore RMB short-term bond fund, a global insurance catastrophe bond as well as a sukuk fund focused on government and investment-grade securities.
AZ Athenaeum was established last year as a JV between Singaporean fund house Athenaeum and Italian asset manager Azimut.
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By GlobalDataMarco Cora, fund manager of the AZ Fund Macro Volatility, said that the new products aim to tap segments of the market that are under-served.
Additionally, the firm is also planning to recruit business development staff.
Established in 1999, Athenaeum advises family offices, endowments, foundations and high-net-worth individuals.
