Wellington Management has made four of it funds jointly worth $7.3bn more available to UK investors by turning them from FCP vehicles into SICAV funds.
Wealth managers in the UK will now have wider access to its Global Quality Growth, Asia Technology, Global Innovation and Climate Strategy funds.
The largest of the funds is Wellington Global Quality Growth with assets under management (AUM) of $6.8bn. It delivered a total return of 411.9% since launching in 2011, beating its MSCI All Country World benchmark’s return of 222%.
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Also converted into a SICAV vehicle was the $329m Wellington Asia Technology fund, which beat MSCI All Country Asia Pacific Technology Custom Sector benchmark by 2.6 percentage points since launching in 2018 with a total return of 59%.
The $317m Wellington Global Innovation is up 170% since its launch in 2017, while the $195m Wellington Climate Strategy returned 99.3% since inception in 2018.
Wellington also expanded its UK team with the hire of Ferdie Voorspuy in December, who will be responsible for developing relationships with wealth managers and advisers in the south.
He moved to the firm from Muzinich & Co, where he spend eight years working in sales and client relations.