MAM offers open-ended version of diverse trust
MAM Funds has set up an open-ended version of its diverse income trust for managing director Gervais Williams.
The Acuim UK multi-cap income fund will be the first open-ended fund to be launched under the Acuim branding, positioned alongside its existing Miton and Midas brands.
Williams will be supported on the new fund, which was revealed by Money Marketing in June, by senior fund manager Martin Turner.
The fund will invest across the market cap spectrum, aiming for a target yield of more than 5 per cent, and will invest in a portfolio of between 80 and 120 holdings.
As part of its multi-cap investment strategy, the fund is expected to take a 10 per cent weighting in blue-chip FTSE 100 companies and a 25 per cent exposure to the FTSE UK Mid-Cap index.
Williams says he has shunned resources companies and banks in favour of the manufacturing sector and the insurance industry as he believes these companies are better positioned to grow dividends.
Close Wealth investment director Andrew Thompson says: “Williams has built up a great reputation investing in the small-cap sector. There are only a handful of funds in the multi-cap income area with a small-cap bias. The mid and small-cap space should provide the potential for growth over and above the large-cap area.”