T. Rowe Price has launched a new mutual fund product, comprised of eight sub-funds, which will be available in Germany.
The fund, known as a SICAV, will be based in Luxembourg. It will be comprised of five equity funds: U.S. Blue Chip Equity, U.S. Large Cap Value Equity, U.S. Smaller Companies Equity, Global Emerging Markets Equity and Global Clean Future Equity. The product will also include three fixed-income funds: Global Aggregate Bond, Global High Yield Bond and European Corporate Bond.
Both institutional investors and retail investors will be able to invest in the product.
Officials at the company could not be reached at press time, but a statement issued by T. Rowe said that the new product is part of a larger strategy to expand the Baltimore companys presence in Europe, including recent moves into the continents Nordic region.
"We recognize that there is an appetite in Germany for products which offer an exposure to equity and bond markets," Thomas Pedersen, the firms managing director for European sales said in the statement.