US fund house launches European mirror of global fund

American asset manager DSM Capital Partners has launched a Luxembourg Sicav mirror of its US-based $600m (£355m) Global Growth fund.

DSM co-managing partner Steve Memishian says he was pleased to offer the strategy to overseas investors.

The US fund has returned almost 19 per cent in the year to 8 August, according to Bloomberg.

The bottom-up fund searches for well-managed companies with free cashflow and growing revenues and profitability using proprietary models and a “rigorous valuation discipline”.

It takes a macro view to inform the sizes of positions it takes and which ideas to implement.

The large-cap biased ($10bn market cap and above) fund has no limit on the amount it can invest in each security.

Usually investing in between 35 and 55 stocks, it is managed by co-managing partner Daniel Strickberger and a nine-strong team of analysts and portfolio managers.

Memishian says the 13-year-old firm, which manages $5.6bn, is not daunted by opening a fund across the Atlantic.

“DSM is a global investor with a global clientele,” he explains.

“We already have a substantial investor base in Europe.  Our Sicav adds another way to invest with DSM. European regulation is no different than US funds regulation as they are all detailed and diligent and that gives comfort to fund investors.”

The Sicav has an ongoing charge 1.65 per cent and no entry fee.