MAM Funds to launch open-ended fund for Williams

MAM Funds is to launch an open-ended version of its diverse income trust for managing director Gervais Williams at the end of the week.

The Acuim UK Multi Cap Income fund will be the first open-ended fund to be launched under the Acuim branding, sitting alongside its existing Miton and Midas brands.

Williams (pictured) will be supported on the new launch 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.

With quarterly income payments, the fund will invest in a portfolio of between 80 and 120 holdings.

Williams says: “Our aim is to provide good and growing income for our investors.

“We believe there is a gap in the market in relation to income funds as most have a profound large cap bias, coupled with high sector or stock-specific exposure.”

He adds: “In today’s low interest rate, and low growth environment, investors need income generating assets, particularly those which are under-represented to diversify income and help manage risk.”

Minimum investment in the fund is £1,000 and it carries a 1.5% annual management charge.