Capital Group launches its opportunity fund in Australia
Capital Group has launched its new perspective fund in Australia, after it had been available in the United States for over 43 years, according to the fund manager.
After its launch, Lonsec awarded the fund a ‘recommended' rating after it found that it had strong conviction and risk adjusted returns in line with its objectives.
Since its launch in the US in 1973, it has generated an annualised return of 13.7 per cent per annum, compared to the index's return of 10 per cent, Capital Group said.
The fund focused on opportunities that were created by change from global trading patterns and economic and political relationships.
Capital Group's investment director, Andy Budden said: "Understanding a company's source-of-revenue is all about investing without borders".
As markets, economies and companies globalised, opportunites and risk for investors spread beyond their domiciles, Budden said.
The group's senior vice president and head of Australia, Paul Hennessy, said the fund outpaced the market 86 per cent of the time in up markets and 100 per cent of the time in down markets.
The company also recently hired the previous secretary of the department of Prime Minister and Cabinet, Michael Thawley, as its senior vice president of capital strategy research.
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