Nov 2009 Financial News

ANSA launches first major euro fund

Nov 19, 2009

ANSA Merchant Bank added a new Euro Income Fund to its investment products on Tuesday, targeting investors wanting currency diversification away from the dominant US dollar mutual funds. The new ANSA Euro Income Fund, is ideal for those who have already built TT and US dollar portfolios, and may desire an attractive alternative for further diversification, says Managing Director, Chip Sa Gomes. He said the introduction of the ANSA Euro Income Fund, added to ANSA Merchant Bank’s impressive range of financial service products, which included investment solutions for foreign exchange, asset financing, mortgages and investment banking.

There are no entry or exit fees for the fund, however the minimum initial investment is 5,000 euros with additional contributions of 500 euros or more. Disbursements will be made quarterly and may be reinvested or distributed to the investor. He said the ANSA Euro Income fund would join the ANSA Merchant Bank suite of Mutual Funds, including the ANSA Secured Fund, the ANSA US$ Secured Fund, the Schroders ISF Global Energy Fund and the MAN AHL Diversified Fund.

ANSA Merchant Bank is one of the flagship companies of the regional conglomerate, ANSA McAL Ltd. The Bank manages funds in excess of $4.5 billion for its own account as well as third party mandates, and the expertise gained in fund management led them to enter the Mutual Fund market in 2005 with the launch of TT$ secured fund in 2005. Other mutual funds followed soon after. Rupert Robinson, CEO of Schroders Private Bank, which has been successfully managing ANSA Finance’s international fund portfolio, said he was bullish about the performance of the Euro Fund in the future as this decade drew to a close. “Although the credit crunch has left the global economy facing some formidable problems, including a legacy of large scale public debt, it has also left global GDP well below trend, especially in developed economies.

“Real GDP therefore has room to rebound very sharply and this rebound in growth should not prove to be inflationary, despite the fact that it will need to be largely driven by expansionary monetary policy. “This decade has also been one of opportunity. The emerging economies, led by the BRIC’s (Brazil, Russia, India and China), have dominated the process of global growth, and their equity markets have far outstripped the markets of America, Europe and Japan.” He said emerging market equities have returned 196 percent during the decade while US equities are actually down 17 percent. “The growth in the BRICs has fuelled unprecedented demand for oil and other basic commodities, so the prices of these commodities have doubled relative to global equities during the decade.


Source:
Trinidad Guardian
Thursday November 19, 2009

http://guardian.co.tt/business/business/2009/11/19/ansa-launches-first-major-euro-fund