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Exclusive: Walewski launches Europe ex-UK fund

Exclusive: Walewski launches Europe ex-UK fund

Nicolas Walewski's boutique Alken Asset Management has expanded its fund range with the launch of a continental European equity fund, Citywire Selector has learned.

The Alken Continental Europe fund is awaiting approval from regulatory bodies and is expected to launch by the end of September.

The Luxembourg-domiciled fund will be managed by Citywire A-rated Walewski and co-manager Marc Festa.

As a firm Alken has typically been underweight the UK due to its stock-picking style and its view that it is difficult to gain an edge over others operating in the FTSE 100 market.

Walewski's flagship fund, the Alken Fund European Opportunities strategy, currently has around 16% allocated to the UK, which is around a 10% underweight.

Commenting on the launch, a spokesman for Alken AM said: 'The European Opportunities fund has delivered strong returns for our investors for over a decade. The Continental Europe launch is a natural progression for our strategy in the UK market.

'The launch comes at an appropriate time, as we continue to find exciting investment opportunities across continental Europe.

'We believe robust economic data, positive revisions to corporate earnings, and not least diminishing political uncertainty make Europe an attractive proposition to investors.'

Walewski told Citywire Selector in August that Brexit had been a disaster for the firm, but said that the uncertainty could help equity markets over time.

The fund will be launched under the Ucits structure and its benchmark will be the MSCI Europe ex UK index.

It will be registered across all Europe as well as Singapore, which covers UK, France, Germany ,Italy, Lux, Spain, Switzerland, Finland, Austria, Sweden, Netherlands, Belgium, Portugal, Norway.

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