Capital Group has launched a new economy fund aimed at investors in Europe and Asia.
The New Economy fund is a Luxembourg-domiciled Ucits fund which will be managed by the same investment team that manages the firm’s New Economy Strategy from the US, which was launched in 1983.
The New Economy strategy seeks to take advantage of the shift from an economy predominantly based on manufacturing to one around services and information companies.
“Growth opportunities arising from the next wave of new technologies and digital disruption are widespread,” the Los Angeles-based manager said in a press statement.
“The strategy aims to identify and invest in companies at the forefront of data, scientific and technological advancements that can innovate and thrive in this ‘new economy’.”
The fund is managed by four portfolio managers.
Capital Group manages US$2.1 trillion in assets, the firm said.
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