Wellington Management introduces four UCITS funds to the UK wealth market
7 FEB, 2025
By Jose Luis Palmer from RankiaPro Europe
Wellington Management, one of the world’s largest independent investment management firms, has strengthened its presence in the UK wealth market by merging four of its long-standing UCITS funds into SICAV structures. The move is aimed at making the funds more accessible to UK-based wealth managers and expanding the firm's European footprint.
New SICAV Funds Totaling $7.3bn in AUM
The four actively managed funds, which collectively hold $7.3 billion in assets under management, have transitioned from the Luxembourg-based FCP structure to SICAV vehicles, providing greater accessibility for UK wealth managers. The funds included in this restructuring are:
- Wellington Global Quality Growth Fund – Managed by Steven Angeli, the fund seeks long-term returns above the MSCI All Country World Index, balancing growth, valuation, capital return, and quality. Since inception in March 2011, it has delivered a cumulative return of 411.9% net of fees (12.8% annualised) versus its benchmark’s 222.0% (9.0% annualised).
- Wellington Climate Strategy Fund – Led by Alan Hsu, the fund focuses on firms committed to climate risk mitigation and adaptation. With research partnerships from the Woodwell Climate Research Center and the MIT Center for Sustainability Science and Strategy, the fund has generated a 99.3% cumulative return (11.9% annualised) since launching in November 2018, outperforming its benchmark’s 86.8% (10.7% annualised).
- Wellington Asia Technology Fund – Managed by Yash Patodia, this fund invests in leading Asian technology companies, aiming to exceed the MSCI All Country Asia Pacific Technology Custom Sector Index. Since its launch in March 2018, it has returned 59.0% (7.1% annualised) against the benchmark’s 56.4% (6.8% annualised).
- Wellington Global Innovation Fund – Overseen by Michael Masdea and Brian Barbetta, the fund targets firms driving or benefiting from innovation. Since launching in February 2017, it has delivered a cumulative return of 170.0% (13.5% annualised) compared to its benchmark’s 117.6% (10.4% annualised).
The shift to SICAV vehicles also enhances tax clarity, shareholder voting rights, and overall governance transparency, making these funds more attractive for UK wealth managers.
Expansion of EMEA Wealth Team
To support this strategic expansion, Wellington Management has reinforced its EMEA Wealth team with new hires. Ferdie Voorspuy joined the team in December 2024 and is responsible for building relationships with wealth managers and advisers in southern UK, working alongside Adam Kay, who manages the northern regions. Voorspuy previously spent eight years at Muzinich & Co., where he worked in the sales and client relations team.
Additionally, the firm hired another team member in autumn 2024 as part of its ongoing efforts to strengthen its wealth management capabilities in the UK and Europe.
In today’s world, clients are increasingly doing more with fewer key strategic partners. As a result, it’s imperative we develop a broad toolkit of solutions in the most appropriate and accessible wrappers for wealth managers and advised retail clients.
Matt Knight, Head of Distribution for UK & Ireland at Wellington Management.
Wellington Management continues to expand its European operations, with 19 offices worldwide, including London, Luxembourg, Milan, Madrid, Frankfurt, Zurich, and Dubai. The firm’s latest moves reflect its commitment to growing its footprint in the UK wealth market and offering high-quality investment solutions tailored to the evolving needs of professional investors.
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