Until now, if a foreign fund company had a successful fund and wanted to give it exposure to the potentially lucrative U.S. marketplace, it has had to start from scratch and register a similar fund in the U.S. That may no longer be true. Julius Baer Group of Zurich may have found a way around that onerous process.
Julius Baer Investment Services of Boston, the entity which offers Julius Baer's Global Equity and International Equity funds, filed a preliminary prospectus with the SEC on April 9 that would create a U.S. fund, the assets of which would be invested together with an existing Swiss-based Julius Baer UCITS fund (Undertaking for Collective Investments in Transferable Securities), yielding a single portfolio of securities. If approved, it would mark the first time a company has used this approach with a U.S. fund, according to the registration statement filed with the SEC.
