Argonaut Russ wants Euro income sector
Share
Russ: ‘More than enough to launch a sector’
Argonaut partner Olly Russ says there are now enough funds in the market to merit the Investment Management Association launching a European income sector.
Russ says it is difficult for advisers to compare income offerings as they currently are.
He says: “There are now at least 12 funds focused on European income and that is more than enough to launch a sector. The only thing we do need is for a few more funds in the area to get a longer track record but that should not be too far away.”
Last year, Russ called for the IMA to introduce an overseas/ global equity income sector but says in the long run a number of funds would have continued to face the same problems.
He says: “You would still be comparing two completely different animals in the same sector but it would have been a step forward from the situation that a number of funds are in.”
Russ is set to run the Ignis Argonaut enhanced European income fund when it launches on April 30. He has also managed the European income fund since it started in January 2006. Chelsea Financial Services managing director Darius McDermott says: “It would make life easier for advisers to have these sorts of funds compared against one another.”
If you enjoyed this article, sign up here to receive daily email updates from Money Marketing and Follow @_moneymarketing
