Thornburg already fields four relatively small Ucits vehicles open to UK investors: the $2m Global Opportunities Fund; $2.3m Global Equity Income Fund; $5m Global Equity ex-UK Fund; and $4m Investment Income Builder Fund.
Chris Elsmark, ex of Copthall Parnters, and Karim Elfar, formerly of Davis Advisors, will spearhead the UK push, and take overall responsibility for developing the firm’s franchise outside of the US.
Whilst the funds predominantly invest across global equities, the firm grants its managers broad flexibility to invest wherever compelling value may appear, across capital structure in equities and fixed income and across market caps.
Elsmark pointed to a trend towards strategies that emphasise a global perspective rather than geographic mandates.
“We believe that the structure of our investment strategies built on our core investment principles of focusing on the fundamentals, investing for the long term, and going wherever we see value gives us a durable framework for value-added investing,” he said.
Headquartered in Santa Fe, New Mexico, Thornburg has some $87bn under management.
The trend for global investing is highlighted in research from the AIC which found that average investment company exposure to the UK has fallen 9% in the past 10 years.
