US giant to open $60bn strategy to UK & European investors

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One of the world's largest active equity managers, Capital Group, is to bring a flagship strategy to Europe with the planned launch later this year of an unconstrained global equity fund.

The New Perspectives investment strategy, which is subject to regulatory approval, will be a Luxembourg-listed UCITS fund and will have a virtually identical portfolio to the US mutual fund equivalent, which has around $60 billion under management. The fund has been running in the US since 1973, and the Luxembourg-domiciled version will be run using Capital Group’s team-based approach. Rob Lovelace - son of Jon Lovelace, the investor who originally developed the strategy, is part of that team. New Perspectives investment director David Polak said the fund has a ‘disruptive’ investment...

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