Capital Group fund to invest in budding multinationals

Added 21st July 2015

The firm plans an Asia launch of its Luxembourg-domiciled global equity product that invests in blue chip companies with the potential to become global leaders.

Capital Group fund to invest in budding multinationals

The original fund was launched in 1973 in the US and is being managed by a team of eight portfolio managers. 

The same US-based investment team will manage the new fund. When it launches in Asia, the team will follow the same unconstrained approach it has been using in the US, the firm said.

The Capital Group New Perspective Fund hopes to identify blue-chip companies that are well positioned to take advantage of global secular trends and have potential to develop into leading multinationals.

“As companies successfully grow beyond their home markets, they often possess diversified profit streams, innovative management teams and solid balance sheets which could help them prosper as investments in healthy environments but also mitigate downswings in tough times,” the firm said.

In terms of geographic breakdown, the fund has invested 49% of its assets in the US, followed by Europe (29%) and Asia-Pacific (12%).

Top holdings include: Novo Nordisk, Amazon, Regeneron Pharmaceuticals, Naspers and Google.

“We look for companies with sound management teams and sustainable competitive advantages,” said Rob Lovelace, president and portfolio manager of the fund.

Since its launch in 1973 until 31 May, the Capital Group New Perspective strategy has achieved a return of 13.4% per annum compared to the 8.6% delivered by the MSCI All Country World Index, the firm said.

HSBC Global Asset Management also plans to launch a global equity dividend fund on Friday.

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