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DWS adds two funds to range for UK

DWS, the asset management arm of the Deutsche Bank group, is offering an absolute return bond fund and a specialist glo-bal equity fund.

Pieter Furnée, who last November was appointed head of sales for the UK, the Netherlands and the Nordics, says DWS is hoping to stand out with a different fund range.

The Frankfurt-based firm is planning to acquire distributor status for the DWS diversified fixed-income strategy fund, an absolute return strategy investing in bonds. It is also planning to add a retail share class to the fund. Manager Mark Dowding aims to benefit from development of the global credit and currency markets.

About 28 per cent of Dowding’s £135.2m fund is held in government bonds, 24 per cent in investment-grade corporate financials and 21 per cent in investment-grade corporate non-financials. The second addition to the UK fund range is likely to be the DWS Invest global thematic fund, a global equ-ity fund investing in selected trends and themes.

Both funds are Luxemburg-domiciled Sicavs and should be available by the second quarter.

DWS made a comeback in the UK retail fund market last year with a range of regional and thematic funds. Over four years after the group sold its entire fund range to Aberdeen Asset Management, it had acquired distributor status and added sterling-denominated share classes to 10 of its highest-profile funds.

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