Thomas Romig, formerly head of one of the largest multi-asset businesses in Germany at Union Investment, recently launched a multi-asset fund at his new employer Assenagon AM. Even though his new fund is focused on capital preservation, he included the Legg Mason Clearbridge US Aggressive Growth Fund in his portfolio.
The record number of mergers and acquisition deals announced in 2015 hasn’t led to a sustained interest in merger arbitrage funds. Ucits-regulated M&A funds fell out of grace in the final months of the year, as they significantly underperformed their offshore peers.
German gatekeepers concentrate on performance rather than the investment philosophy of a fund to determine whether it is eligible for their white list, according to research by investment consultancy NMG.
Thomas Romig, head of multi-asset management at Union Investment in Frankfurt, has become more skeptical about return prospects for high yield.
Asset managers know what fund selectors care about when selecting funds, but they overestimate the importance of some of their funds’ features to fund buyers.
Thomas Romig talks about the qualities he values in fund managers, and why he likens building an asset management portfolio to managing a football team.
Investors’ appetite for emerging market corporate bonds has been insatiable in recent years. But is it time to take a more restrained approach to the asset class before indigestion sets in? By Will Jackson
