Wells Fargo unveils Global Equity Absolute Return fund

Long/short UCITs fund

Wells Fargo Asset Management (WFAM) has rolled out the Global Equity Absolute Return fund to UK investors as it continues to build out its international product offering.

Launched on 26 April, the UCITS fund is a sub-fund of the Wells Fargo (Lux) Worldwide fund and is available for both retail and institutional investors.  The strategy aims to achieve long-term capital appreciation and an absolute, or positive, return regardless of market conditions by taking both long and short positions in developed market equities, such as those in the MSCI World index. The fund can have up to 100% of its net assets in long positions and short equity exposure - through the use of swap agreements and other derivatives - of up to 80% of its net assets. Wells Farg...