Fund giant Neuberger Berman is considering launching onshore versions of its Dublin-domiciled range in a bid to overcome an enduring lack of appetite for offshore products.
The $246bn (£190bn) fund house offers several Ireland-based open-ended funds, but has begun debating the merits of an Oeic range.
Emea and Latin America managing director Dik van Lomwel said Neuberger wanted to capitalise on the growing popularity of its investment trust range in the UK.
The likes of the £1.1bn NB Global Floating Rate Income fund have increased the firm’s profile among wealth managers and advisers, Mr van Lomwel said.
But the asset manager, whose European footprint is built around its presence in the institutional market, is conscious of the fact that “around 90 per cent” of UK fund sales go to onshore products.
Mr van Lomwel said Neuberger was still in the very early stages of considering such a move. A further complication is the number of share classes the business already offers across Europe – most fund houses of comparable size are scaling back their ranges rather than expanding.
By contrast, the eventual outcome of the UK’s Brexit negotiations with the EU could make it more difficult for non-UK fund houses to sell their offshore products to UK investors.
