FRANCE - Paris-based asset manager TOBAM has launched an anti-benchmark emerging market equity fund as part of its plans to diversify its portfolio.
The Anti-Benchmark Emerging Markets Equity fund has raised $135m (€95.6m) to date, according to TOBAM.
With the new fund, TOBAM aims to maximise diversification and deliver a full equity risk premium to investors.
The emerging market fund, which is dedicated to long-term institutional investors, has secured its first investment from a pension fund located in North Europe.
TOBAM is also seeking to attract more large pension funds from further afield.
The asset manager has recently opened an office in Los Angeles for this purpose.
Yves Choueifaty, chief executive at TOBAM, said: "This fund was expected by our investors, who are looking to invest more in emerging markets as part of their plan to diversify their portfolio.
"The anti-benchmark emerging market fund also represents the last piece to our strategy, as we have already launched several funds covering different markets."
The anti-benchmark emerging market fund, which is traded daily, is fully invested and does not use leverage, he stressed.
The next step for TOBAM will be to implement new funds opened to retail investors and based on specific countries.
TOBAM currently has eight funds under management, covering regional and global equities, as well as commodities.