Wells Fargo Asset Management has rolled out a new Luxembourg-domiciled high conviction US equity fund in the UK.
Managed by Chicago-based Dick Weiss and his team, the fund will invest in the equity securities of approximately 30 to 40 US companies of any market capitalisation that offer potential for capital growth.
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It will invest in companies that are undervalued on a private market value basis.
Additionally, the fund aims to generate capital appreciation by investing at least two-thirds of its total assets in equity securities of US companies, and up to one-third of its total assets in equity securities of non-US Issuers.
The unconstrained fund will be offered to institutional and retail investors at total expense ratios of 1.25% and 1.95% respectively.
Wells Fargo Asset Management international business development managing director Ludger Peters said: "We are pleased to offer US Select Equity to our growing international client base and to diversify our product line-up by adding a fund with substantial exposure to US securities across the market capitalisation spectrum."
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