EFG Asset Management, the investment division of EFG Private Bank, has selected Mazama Capital Management to act as portfolio manager for its New Capital US Growth Fund, a UCITS fund for non-US investors to be launched July 26, 2010.

Mazama has said that the fund will employ its traditional, long-only growth stock investment style and will be a combination of the its mid cap growth and large cap growth portfolios. Mazama will use the bottom-up fundamental research process and price performance model to identify and track the top growth companies in the US equity universe.

Mazama’s team of 10 equity research specialists will manage the portfolio, under the direction of its founder and chief investment officer Ronald Sauer.

Mr Sauer said: “We are very excited to be selected by EFG Asset Management for the New Capital US Growth Fund. This is a step toward our effort to provide global investors with a unique opportunity to invest in Mazama’s growth stock portfolios. EFG Asset Management is the right partner for us on an investment, conviction and stock selection approach.”

Mozamil Afzal, chief investment officer of EFG Asset Management, said: “We are delighted to be offering this investment opportunity to our clients, which benefits from Mazama Capital Management’s experience in US growth investing.”

EFG Private Bank is the UK-based private banking arm of EFG International, with subsidiaries in Guernsey and Jersey.