EUROPE - A European pooled multi-manager product open to pension funds will be launched by Northern Trust Global Investments this autumn.
The Dublin-based product is likely to contain a global equity fund, a pan-European equities fund and a global bond funds.
Managing director multi-manager products in London, Tony Earnshaw, said: “We are just finalising the decision on precisely what vehicle the pooled fund should be. The big decision is between corporate vehicle and unit trust.
“We will construct the vehicles in as flexible way as we can because although we will be focusing on one country or one area at a time, our ultimate aim is to be fairly wide.”
Northern Trust already has a pooled global equity fund that has proven popular with UK pension funds and is hoping for similar success with its new product particularly its pan-European equity component.
Earnshaw added: “UK pension funds seem to have been on the point of investing in pan-European equities for a long time and not a lot have actually jumped. But I suspect it is only a question of time.”
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