MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Thursday, May 5, 2005 New Cub Fund at Julius Bear Swiss-owned Julius Baer is adding a second international equity fund. The New York City-based fund arm of the European bank closed its initial fund at the same time it opened the second fund. The new fund -- International Equity Fund II -- will be sold with the same share class A and class I shares structure as the initial fund. Both funds share the same investment philosophy, according to the co-portfolio managers Rudolph-Riad Younes and Richard Pell. The original International Equity Fund remains open to existing shareholders and participants in its current 401(k) client base. Also, registered investment advisors (RIAs) and certain other fee-based programs will continue in most cases be able to add new client accounts to the fund until August 1, 2005. Tony Williams, Julius Baer Investment Management CEO, explained that the decision to close the fund was a response to large inflows. Total assets in the fund reached $12.1 billion at the end of March. "While we are pleased the fund has attracted so much interest, continued large inflows could eventually impair our ability to maintain performance integrity and abide by our stated investment objectives," Williams explained. "At this time, the responsible action is to close this specific fund to new investors while still making the same basic investment strategy and the talents of the same investment management team available to investors through this new fund." Julius Bear offers five funds, including the two international funds and Julius Baer Total Return Bond Fund, Julius Baer Global High Yield Bond Fund and the Julius Baer Global Equity Fund. Printed from: MFWire.com/story.asp?s=9635 Copyright 2005, InvestmentWires, Inc. All Rights Reserved |