Swiss Life Asset Managers has announced the launch of its first European fund from its London base, Mayfair Capital.
The European Thematic Income & Growth Fund1 is structured as a Luxembourg SICAV structure with a diversified core/core-plus portfolio strategy, focuses on macro allocation and micro asset selection as well as nimble asset management. Swiss Life Asset Managers said that it has committed significant long-term capital to the fund that will also be open to third-party co-investors. 'Swiss Life Asset Managers’ considerable resources and financial commitment ensure the fund can access and participate in the most attractive investment opportunities across Europe from launch,' the company said in a statement.
Investment advisory for the strategy will be led by the London team of Swiss Life Asset Managers at Mayfair Capital, under the guidance of senior fund manager Maureen Mahr von Staszewski. The fund will focus on Europe's largest and most liquid markets of Germany and France with a target allocation of 60% and to a less extent on the UK (10%).
As for sector allocation, the strategy will target an approximate 40% allocation to offices, 25% to industrial, 10% to retail and 25% to residential and other maturing segments. At the individual investment level, the investment advisor will seek, within the core to core-plus range, to harness the numerous thematic drivers currently underway across European markets. These themes are bracketed into five groups – connectivity, communities & clustering, consumers & lifestyle, change & disruption and climate & environment.
The new fund complements Mayfair’s existing UK Thematic Growth Fund that was launched in 2018.
Stefan Mächler, group CIO of Swiss Life, commented: 'We are pleased to support this strategy with significant balance sheet allocation alongside our clients. We believe our dynamic, differentiated management style for diversified open-ended fund investment will appeal to investors such as pension funds, insurance companies and other international institutions seeking an attractive and sustainable long-term return from European real estate.'