Wells Fargo brings GEM vehicle to UK

The asset management division of US banking group Wells Fargo is making its US-domiciled emerging markets fund available to UK investors as a Luxembourg Sicav.

Wells Capital Management (WCM) Emerging Markets Equity fund is an 80-150-stock portfolio managed by Jerry Zhang. He looks across the market-cap scale to find companies with a competitive advantage, quality management and sustainable returns on capital that are trading below their intrinsic value. The portfolio has a 13-year track record, and has delivered 11% annually since 1997, compared to a return of 7.5% from its benchmark, the MSCI Emerging Markets Free index. Emerging markets rose 74% last year, Bloomberg figures show, and EM funds saw $45bn (£28.7bn) of inflows this year, accor...