View more on these topics

£100M MMC funds get FSA approval for the UK

MPC Investors has got regulatory approval from the FSA to bring its global convertibles and strategic reserve funds to the UK retail market.

The portfolios have taken over £100m since their launch in January under the management of Miles Geldard and Lee Manzi. The pair, who joined from JP Morgan Asset Management last year, use the same strategy on the Luxemburg-registered Sicav as they did at JP Morgan.

The global convertibles fund invests in a broad spectrum of global convertible bonds. It uses the inherent total return characteristics of convertible bonds to capture much of the upside in equity markets while minimising capital losses if equity markets fall.

The strategic reserve fund has a target return of 3 per cent above cash. The fund takes positions in bonds, equities and convertibles while taking tactical advantage of other assets such as currencies when there are opportunities.

Geldard managed the multi-asset total return funds at JP Morgan, including the highly successful capital preservation fund that took in more than £2bn in 2005.

MPC chief executive Peter Harrison says: “FSA recognition for our funds will mean that we can reach a much wider audience.

“The funds are now not only available for distribution in the UK but they are also sterling-hedged and are tax-efficient for UK investors due to their distributor status.”


Luxury or necessity?

Which? took a controversial line on critical illness insurance this month by calling it a luxury product.

Reckless generic

The Government seems determined to bring in some form of generic advice.

US election

Capital Market Notes, November 2016 David Lafferty, chief market strategist at Natixis Global Asset Management, looks at the impact on markets and portfolios since the somewhat surprising outcome of the US election. Click here


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm