Capital Group is to open its oldest strategy to European investors this year as it launches its Investment Company of America fund.
The Luxembourg-domiciled Ucits will mirror a $75bn (£52bn) US counterpart originally launched in 1934. The fund, which predominantly invests in US equities but can hold up to 15 per cent outside of the region, will be run by the US-based investment team.
Increasing access to the fund, which will launch in June, is part of an ongoing strategy by the US asset manager to increase its presence in Europe in both retail and institutional markets.
The firm manages a total of around $1.4trn in assets across its business globally.
Hamish Forsyth, Capital Group European president, said: “This new fund launch represents a further stage in our strategic plan to make available the best of Capital to European investors and to support the growth of our business activities across the region.”
The fund will have an ongoing charges figure (OCF) of 0.9 per cent and a minimum investment of €1,000 (£788).
