Pennsylvania-based growth specialist Turner Investments is to introduce two Ucits funds into Europe reported Citywire Global this week.
Pennsylvania-based growth specialist Turner Investments is to introduce two Ucits funds into Europe reported Citywire Global this week. It is believed the USD12.8billion firm plans to launch an equity l/s strategy and a multimanager strategy. The equity l/s fund – ‘Navigator’ – is due to launch before year-end and will focus exclusively on the healthcare sector, replicating its domestic offering which invests in healthcare firms across all market caps. Vijay Shankaran is to manage the fund. The multimanager fund – ‘Spectrum’ – will also replicate the firm’s domestic offering, the only difference being that it will be composed of seven of Turner’s in-house funds as opposed to eight. Strategies will include global consumer l/s, all cap l/s, market neutral, large cap l/s, medical sciences equity, global resources and infrastructure equity. US small cap will not be offered in the European fund due to liquidity constraints. Matthew Glaser will oversee the fund’s risk management. Commenting on the healthcare ‘Navigator’ fund, Patrick Doerfel, director for institutional European sales at Turner was quoted as saying: “From the start-up biotech company to the multinational conglomerate, it [healthcare] offers rich pickings for a long/short manager.”
