NGA Teams to Launch New Asian Mutual Fund

According to a press release, NGA has launched the Absolute Asia Dynamic Equity Fund (ticker: DEFAX) fund in conjunction with Absolute Asia Asset Management Limited. 

The Absolute Asia Dynamic Equity Fund is the first fund offered in the United States by the Singapore-based management team, which has been headquartered in the region for over a decade, according to the announcement. The team’s portfolio managers average more than 20 years of investment expertise.

“The economic vitality of the Asia Pacific region is quickly converting one of the world’s most diverse geographic locations into an international marketplace of large-scale commerce, investment and development that is capturing the interest of many investors,” said Bill Sung, chief investment officer of Absolute Asia Asset Management and co-portfolio manager of the new fund. “Our strategic location directly in the heart of the Asia Pacific region gives us the distinct advantage of being close to the companies and business centers which are our focus.”

The new Absolute Asia Dynamic Equity Fund is available to investors through Class A, C and Y shares.  The total return fund seeks to maximize total return and is managed jointly by Bill Sung and Joyce Toh.  The fund’s managers expect to invest at least 80% of net assets in equity securities of 30–40 companies located or operating throughout Asia (excluding Japan).

The fund is designed to respond to what the firms said was a “broad-based need for investors seeking exposure to both emerging and developed markets in the Asia Pacific region”.  The press release says that the fund’s managers anticipate using a “bottom-up” approach to stock selection, employing fundamental analysis to identify companies believed to benefit from emerging local and global economic trends. In selecting investments, managers will generally focus on factors including product/service innovation, profitability, production/service facilities, competitive edge, business development, resources and quality of the management team, according to the firm.

Absolute Asia Asset Management Limited currently manages six funds available in various countries around the world.  The firm is based in Singapore, and its client roster of public and private pensions, sovereign wealth funds, wealth management banks, fund of funds managers and family offices reflects the growth and diversity of the region. Absolute Asia Asset Management specializes in Asian (ex Japan) equities.

Natixis Global Associates (NGA) is the distribution arm of Natixis Global Asset Management, one of the 20 largest asset managers in the world based on assets under management, according to the firm.  Headquartered in Paris and Boston, Natixis Global Asset Management’s assets under management totaled $728 billion (€505 billion) as of December 31, 2009.