Columbia Threadneedle Investments has said it will replicate its multi-asset and managed fund ranges in Europe in preparation for Brexit.
After the EU referendum last year, the global asset manager said it would look to expand its operations in Europe. The firm already has a presence in Luxembourg and a range of Sicav funds.
Newly-appointed chief executive of Europe, Middle East and Africa Michelle Scrimgeour says instead of extending the current European Sicav range the firm will replicate some of its “strong” UK strategies in Europe.
This includes parts of its multi-asset range and the £3bn managed fund range run in the UK.
In the two multi-asset portfolios managed by Toby Nangle, the firm already has a Sicav version of the £27m Global Multi Asset Income fund, but not of the £780m Dynamic Real Return fund.
Scrimgeour says the firm might also replicate its European investment grade credit products.
Columbia Threadneedle remains undecided on whether to charge clients for investment research or absorb costs under the upcoming Mifid II directive. It remains among a handful of asset managers who hadn’t yet revealed their plans at the time of writing.
Scrimgeour says: “As it relates to research commission, we’ve been going through a process and we are going to be talking to clients shortly.”
Over the last five years Columbia Threadneedle, which manages over $473bn in (£356bn) assets, has increased its offshore fund range, having launched Luxembourg Sicav funds such as the European Social Bond fund, US Disciplined Core Equities, Pan European Absolute Alpha and Luxembourg-based UK Equity Income funds.
Read the full interview to Michelle Scrimgeour in our print issue and on the website next week