UCITS vehicle initially launched for investors in Latin America
Luxembourg, 20 May 2014 – Alceda Fund Management S.A. (“Alceda”) announces that Clark Capital Management Group, Inc. (“Clark Capital”) has launched its Navigator Tactical Fixed Income fund (‘the Fund’) on the Alceda UCITS Platform (“AUP”). The Fund, domiciled in Luxembourg, continues the strategy of the Clark Capital Navigator® Fixed Income Total Return Investment Solution, launched in 2005 in the United States.
Founded in 1986, Clark Capital is an independent, employee-owned investment advisory firm based in Philadelphia, PA managing over US $2.8 billion in client assets.. Within the mutual fund, portfolio managers seek to deliver income and risk control while reducing interest rate sensitivity. The firm believes a rucial component of the fund is its ability to shift out of lower quality areas when needed and invest in high quality debt and/or cash. The Tactical Fixed Income strategy aims to deliver excess alpha over a full market cycle measured against Barclays Capital U.S. High Yield Bond Index and Barclays Capital U.S. Aggregate Bond Index. The strategy seeks total return with a secondary goal of current income.
The Fund is expected to be particularly popular with Latin American investors looking for an opportunity to invest in a tactical international fixed income strategy with an acknowledged track record and in an established structure. Alceda’s partner, AFINA International Advisors (“AFINA”), a specialist financial services company, will market the fund to its investor base in Latin America.
Harry Clark, Chairman and CEO of Clark Capital Management Group said: “Fixed income has dominated investment inflows over the last decade as global investors have sought alternatives to volatile equity markets. We believe flexibility is the key to alpha and that a disciplined quantitative research process may lead to consistent long-term performance. Our prudent, flexible and highly adaptable approach enables us to seek to constantly balance risk while pursuing alpha and we are delighted to have partnered with Alceda as we look to expand our Latin American investor base.”
Michael Sanders, CEO and Chairman of the Board of Alceda Fund Management S.A. said: “The Alceda UCITS Platform provides an easy solution for asset managers to launch their investment strategies in a UCITS format. Through our established network of distribution partners, in this case AFINA, we aim to take the fund global. Demand for Luxembourg domicilied UCITS structures is growing in Latin America with investors looking for time tested funds that provide a level of sophistication and transparency and better returns than is often available in local markets.”
David Godfrey-Thomas, Chief Executive Officer, AFINA International Advisors, said: “We work to identify the investment strategies that we think will appeal to Latin American markets, and are excited to be working with Clark Capital and Alceda to bring this fund to market in a structure tailored to suit local investors. UCITS are an accepted investment in Latin America for institutional investors, including pension funds, banks, and broker dealers. Although UCITS have evolved from a European concept into a globally respected product it is important to note that on the ground, local marketing is key.”
From 2006 to 2013 the number of cross-border UCITS registrations in Latin America have grown in Chile from 407 to 1466 and in Peru from 64 to 767, according to the latest analysis by PwC and LIPPER in 2014.
For further information, images or meetings please contact:
T. 0049 40. 471 10 77-903
Alistair Kellie / Madeleine Palmstierna
T. 0044 20. 7680 6550
Clark Capital Management Group, Inc.
Clark Capital Management Group is an independent, family and employee-owned investment advisory firm with over US$ 2.8 billion in assets under management. Founded in 1986 by Chairman and CEO Harry J. Clark, Clark Capital is headquartered in Philadelphia, PA. Clark Capital is a partner to RIAs, financial advisors and investment consultants across the U.S. and provides separately managed accounts (SMAs), unified managed accounts (UMAs), mutual funds, exchange-traded fund (ETF) portfolios, Strategist, 401(k), and third party asset management services. The firm’s Navigator® Investment Solutions help Financial Advisors and RIAs grow their businesses and seek to protect investor assets through meaningful diversification and institutional quality management. For more information please see www.ccmg.com.
About AFINA International Advisors
AFINA is a specialist financial services company focused in Latin America, delivering international proprietary resources in an effort to meet the targeted needs of markets, institutions and individuals. AFINA operates businesses delivering financial and real asset management strategies and investment advisory services specialized in Latin America. For more information please see www.afinaholdings.com.
Alceda is a leading independent structuring specialist in Europe dedicated to the structuring of traditional and alternative investments. Alceda provides asset and fund managers, banks and family offices with tailored investment solutions and global access to investors and distribution partners. In addition, Alceda offers institutional investors the choice of a range of innovative investment strategies from highly specialised fund boutiques worldwide. Established in 2007, Alceda is represented in four countries, with offices in Luxembourg, Hamburg, London and Hong Kong. With over 70 employees worldwide, Alceda has over US$8 billion in Assets under Administration across a variety of products.
For more information please see www.alceda.lu.
Alceda Fund Management S.A.
Airport Center Luxembourg
T: +352 248 329-1
Alceda Asset Management GmbH
T: +49 40 4711077-700
Alceda UK Limited
2-5 Old Bond Street
W1S 4PD London
T: +44 20 701 65-371
Alceda Asia Limited
20th floor, Central Tower
28 Queen’s Road
Central Hong Kong
T: +852 2159-961