BNP Paribas Asset Management has streamlined Parvest, its flagship Luxembourg fund. The fund, which has since its creation in 1990 spawned 77 sub-funds covering all major asset classes and markets, is distributed in 22 countries. This unwieldy structure was becoming hard to manage well, so BNP Paribas has decided to merge the Parvest Asian Opportunities and Parvest Asian Growth subfunds into a single Parvest Asia fund. The Parvest Asian equities range now consists of a large pan-Asian subfund (Parvest Asia), two regional subfunds (Parvest Asean and Parvest Greater China) and a sector-based sub-fund (Parvest Asian Technology). The newly merged sub-fund has assets of over $US 90 million, making it the largest in the Asian Equities range, which currently has total assets of $US 300 million.
BNP Paribas Streamlines Flagship Asian Fund Range
BNP Paribas Asset Management has streamlined Parvest, its flagship Luxembourg fund. The fund, which has since its creation in 1990 spawned 77 sub funds covering all major asset classes and markets, is distributed in 22 countries. This unwieldy structure was