Colonial First State Global Asset Management has announced the launch of its new Asia Wholesale Growth Fund.
The fund is the first Australian unit trust to be managed by Colonial First State’s (CFS's) First State Stewart Asia (FSSA) team.
CFS’s Asian growth strategy was launched in 1999, and the new fund will provide Australian investors with access to the strategy.
The fund invests chiefly in equities issued by companies that are “established, operating, or have their economic activity mainly in the Asia region” (excluding Japan).
FSSA managing partner Michael Stapleton said the fund, and its concentrated portfolio, will garner returns through a “persistent focus on quality” rather than quantity.
“The Asian Growth strategy is a high-conviction portfolio of quality companies that operate in the Asia region. Despite the macro-economic headwinds, we believe that high quality businesses will ultimately find a way to prosper,” Mr Stapleton said.
The aim of the fund will be to outperform the MSCI AC Asia ex-Japan index on a rolling five-year basis.
The major bank has announced additional charges of $525 million after tax in connection with increased provisions for its customer-related r...
The Commonwealth Bank has advised that it will begin a reimbursement process to current and former staff for lost wages from next week. ...
The major banks have seen their reputations significantly downgraded in an annual perception survey, with AMP placing last out of 60 Austral...