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Cape Town - South African asset manager Foord Asset Management has been granted a distribution licence by the Swiss Financial Market Supervisory Authority (Finma) to advance its international expansion efforts.
According to Foord this will allow its subsidiary - Foord (Switzerland) - to sell investment funds in Switzerland under the Collective Investment Schemes Act.
Founded in 2015, the Foord subsidiary in Zurich is headed by managing director Benjamin Hügli, who is responsible for Foord's sales in continental Europe.
"We have identified significant demand for investment solutions in Switzerland that will preserve capital in the long-term and generate positive earnings," Hügli said in a statement.
The flagship Foord International Fund invests globally across all asset classes and has posted an annualised return of 6.8% in dollar terms since its launch in 1997. Investors with a four-year investment horizon have generated positive returns ever since the fund opened.
Since its foundation in 1981, Foord Asset Management has pursued a long-term, value oriented strategy.
"Our objectives are aligned with those of family offices and high net worth individuals (HNWIs) who aim to protect and build on their asset base over several generations," said Hügli.
According to a statement by Foord, Dave Foord, its chief investment officer in SA, is known for his unconventional investment ideas and selection of undervalued stocks.
Foord Asset Management has an established presence in Singapore, Luxembourg, Guernsey and London.
"We are very pleased to offer our knowledge and experience also to Swiss investors," said Mike Soekoe, global head of distribution at Foord Asset Management.
The 57-strong team manages assets of around $12bn.
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