Eden unveils details of ‘vanilla’ fund
Dan Roberts, a former Gartmore manager, has unveiled details for his global equity income launch at Eden Financial, due later this year.
The fund is being prepared for launch in “early November”.
Roberts (pictured) says the fund will be “plain vanilla”, investing in a portfolio of global equities.
The fund will aim for an annual yield of between 4.5-5 per cent and grow the dividend.
The fund’s portfolio will invest 35 per cent in American stocks, “as much as” 20 per cent in the Britain, 20 per cent in Europe ex-UK, 10-15 per cent in Japan and the rest in other countries, including emerging markets.
However, the fund manager warned these allocations could change depending on market movements before the launch.
The fund will invest in a range of sectors with about 60 stocks, most of which will account for 2 per cent of the portfolio’s net asset value.
Roberts joined Eden earlier this year, having previously managed the Gartmore UK Equity Income fund, before its merger with the Henderson higher income fund.
The news follows appointment of Mark Harris, the former head of fund of funds at Henderson Global Investors, last week.
Harris will jointly manage the CF Eden global multi-strategy fund and will develop the company’s multi-asset offering.
The manager joined Henderson as part of the acquisition of New Star Asset Management in 2009.
Harris says: “In treacherous markets preservation of capital becomes an even greater priority for investors and their advisers.
“We believe that there is a significant market gap for high-quality multi-asset funds at the lower end of the investment risk spectrum.”