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Mutual funds

American Beacon launches small cap equity fund


American Beacon Advisors, a provider of investment advisory services to institutional and retail markets, has added the American Beacon Evercore Small Cap Equity Fund to its family of mutual funds.

The fund seeks to achieve long-term capital appreciation.

Its sub-adviser, Evercore Asset Management, uses a fundamental, bottom-up investment approach along with proprietary valuation models.

Since the firm’s founding in 2005, Evercore has focused exclusively on building concentrated portfolios of small- and mid-cap equities. Chris Fasciano, chief investment officer, and Tim Buckley, senior portfolio manager, have primary responsibility for the fund’s day-to-day management.

"American Beacon is very excited to be able to offer Evercore’s specialisation in value-oriented investments in small- and mid-cap companies," says Gene L. Needles Jr., president and chief executive of American Beacon Advisors. "Coupled with our own deep industry experience and relationships, this partnership reflects our ongoing commitment to providing a wide variety of investment opportunities for the benefit of our clients."

Evercore selects securities of companies with market capitalisations of USD3bn or less at the time of investment which it believes are selling at a discount to their underlying value and have the potential to outperform their benchmark. It seeks securities of companies that are at the low end of their historical valuation range, have business catalysts that will cause other investors to recognise the undervaluation and are led by management teams that can execute the company’s plans and realise the company’s growth.

"Evercore makes high conviction investments by applying rigorous independent thinking and in-depth research focused strictly on the fundamentals. We are very pleased to provide our approach to identifying inherent value to American Beacon’s clients," says Fasciano.

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