PSigma's Abate to adopt GDP benchmark in Global Equity fund

PSigma's James Abate is set to use a GDP-focused benchmark in his new Global Equity fund, which launches on 17 June.

Abate will tilt the portfolio towards blue chip names in both developed and emerging economies which pump money back into their business as opposed to increasing dividend payouts. The fund's individual stock weighings will be GDP-adjusted rather than based on a company's market capitalisation. Abate said this will allow the fund to differentiate itself from other global equity funds in the marketplace which mirror the index. "There are too many global equity funds from large houses which are index trackers and some of which are focused on one particular country," said Abate. "Th...