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IPM’s fundamentals-based index funds become Ucits III-compliant

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Sweden’s IPM Informed Portfolio Management has restructured its Luxembourg-based index funds based on the Research Affiliates Fundamental Index methodology to make them fully compliant wit

Sweden’s IPM Informed Portfolio Management has restructured its Luxembourg-based index funds based on the Research Affiliates Fundamental Index methodology to make them fully compliant with the European Union’s Ucits III directive.

IPM says the restructuring has been carried out to meet investor needs better and will improve both liquidity for investors and distribution. The change will enable the funds to be traded on a daily basis instead of monthly and allows IPM to distribute the funds to investors that have hitherto not been able to invest in them.

The funds all use the RAFI fundamental index methodology, which weights stocks by four fundamentals-based criteria rather than market capitalisation. IPM has a track record of more than two years for RAFI-based mandates and of more than a year for the funds.

The change affects four existing funds, the IPM Fundamental Umbrella Fund – IPM RAFI US Fund, IPM RAFI US Small Fund, IPM RAFI Europe Fund and IPM RAFI Japan Fund. The IPM RAFI Global Fund was launched on July 1, and IPM also plans to launch a RAFI Emerging Markets fund later this year.

IPM Informed Portfolio Management is a specialist asset manager offering quantitative investment management solutions to institutional investors. Through strategic alliances with quantitative specialists First Quadrant and Research Affiliates, IPM manages some USD10bn in global tactical asset allocation, currency management and fundamental index strategies for clients including Sweden’s Environment Agency, the Second Swedish National Pension Fund and the Swedish National Debt Office.

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