US giant Capital Group has unveiled plans to launch one of its global equity strategies into the European market later this year.
The group, which oversees $240 billion in global equity mandates, said this will see one of its US strategies made available to European and Asian investors for the first time.
This move, which is subject to regulatory approval, would focus on developing a Ucits-compliant version of Capital Group’s New Perspectives.
The Capital Group New Perspectives strategy was launched for US investors in 1973 and has $59 billion in assets under management.
It focuses on blue-chip companies that can take advantage of global secular trends and growth. These companies work in multiple currencies, economies and political regimes.
Capital Group believes the companies have features including diversified profit streams and solid balance sheets, which will mitigate downswings in tough times and prosper in healthy environments.
Commenting on the launch, a spokesperson for Capital Group, said: ‘The launch of the New Perspective strategy will complement our drive to grow our European financial intermediary business and epitomises our focus on delivering superior, consistent long-term investment results.’
Capital Group added that the move would target the institutional investment and financial intermediary community in Europe.
The company as a whole, which is headquartered in Los Angeles, is responsible for $1.4 trillion in assets under management.