Paris-based asset manager Iris Finance, which purchased quantitative boutique J.Chahine Capital last February, is set to merge two of its three equity funds as the firm seeks to streamline its asset management offering.
The Iris Evolution fund, invested globally in companies demonstrating sustainable earnings and growth and with assets under management amounting to €27.65m at the end of October 2017, will be absorbed by the Iris Santé fund (€6.60m of AUM as of end October 2017) as at 31 December 2017.
Consequently, the investment policy and goal of the Iris Santé fund will be revamped. Iris Finance will scrap the healthcare theme, hitherto core to the strategy, as it assesses the investment scope has become too restrictive in the current international environment.
As from 2 January 2018, the fund will be renamed as Iris Avenir and transformed into an unconstrained global equity fund with an equity exposure varying from 60% to 100% of its net assets. That to fixed income will be capped to 40%.