Wells Fargo adds PM to small cap fund
Schroder Investment Management North America, the subadvisor to the Wells Fargo Small Cap Opportunities fund, has added a portfolio manager to the strategy.
Robert Kaynor, joined Schroders in 2013 and is currently co-portfolio manager and director of research for the firm's US Small Cap and US Small and Mid Cap strategies.
He joins Citywire + rated Jenny B. Jones to co-manage the $195.8 million fund.
Deutsche launches three high yield ETFs
Deutsche Asset Management has expanded its suite of exchange-traded funds with three new high yield offerings.
These are the:
- Xtrackers Short Duration High Yield Corporate Bond ETF (SHYL)
- Xtrackers High Beta High Yield Bond ETF (HYUP)
- Xtrackers Low Beta High Yield Bond ETF (HYDW)
The firm already had two high yield ETFs prior to the new launch including the Xtrackers USD High Yield Corporate Bond ETF and Xtrackers High Yield Corporate Bond-Interest Rate Hedged ETF.
The three new funds aim to provide investors with exposure to the high yield bond market through different levels of credit and interest rate risk.
HYUP offers investors access to lower-credit quality, higher beta bonds, HYDW provides access to lower beta bonds, while SHYL is exposed to short duration high yield bonds.
‘In today’s low interest rate environment, fixed income investors are looking for new sources of yield,’ said Fiona Bassett, head of passive asset management at Deutsche Asset Management Americas.
‘Our expanded Xtrackers suite of high yield bond ETFs uses rules-based strategies to provide exposure to different levels of credit and interest rate risk, allowing investors to manage credit and duration exposure for a more customized solution.’
Deutsche's Xtrackers ETF brand now counts a total of 38 ETFs.