SEARCH
New York-based fund manager Pzena Investment Management has launched the first of two Australian pooled investment vehicles targeted at institutional investors.
The Pzena Emerging Markets Value Fund was opened in October with $70 million in seed funding and is available to Australian and New Zealand institutional investors.
The fund has a concentrated portfolio of approximately 50 companies selected from a universe of 750 non-developed market companies. Equity Trustees is the responsible entity of the fund.
Pzena Investment Management manages close to US$30 billion globally and is headquartered in New York.
The opening of the Emerging Markets Value Fund is planned to be followed by the launch of the Pzena Global Expanded Value fund in early 2017.
Pzena already has a presence in Australia with a $2 billion separate accounts business, according to the firm's director of business development and client services in Australia, David Taylor.
Mr Taylor said the new Australian funds would exclude tobacco and cluster munitions manufacturers.
Read more:
Don't allow 'predatory' mergers: NESS Super
ASIC to target bank cross-selling
Impact Investment Group launches venture fund
CFS hires responsible investment manager
Australian infrastructure returns below average
Stimulate new ideas. Stimulate new thinking. Top up your CPD and hear from industry experts with InvestorDaily’s Knowledge Centre. Keep up to date with the latest trends and reforms, all while adding to your CPD. Explore the knowledge centre Knowledge Centre now.
The central bank has said it would be “premature” to consider ceasing its bond-buying program as the completion date for its second roun...
A new report from the Australian Competition and Consumer Commission (ACCC) has revealed the extent to which consumers are falling for scams...
Despite the Australian economy’s ongoing rapid recovery, an Australian equity head believes GDP growth will “fade” in 2022. ...
Get notifications in real-time for staying up to date with content that matters to you.
Read More
