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Aberdeen adds higher-return funds

Aberdeen Asset Management has introduced three Dublin-domiciled core-plus fixed-income funds that will seek higher returns than its existing core pooled range by investing in a broader investment universe.

The products are benchmarked against UK indices and will cater for UK pension schemes looking to break free from the traditional mandates made up of gilts and highly-rated bonds by moving into a number of uncorrelated assets. These include investment-grade credit, currency, emerging market debt and high-yield bonds.

The core-plus range will target returns of 1.25 to 1.5 per cent a year before fees compared with 0.75 per cent for Aberdeen’s core pooled funds.

The 83m core-plus sterling credit fund will be benchmarked against the Merrill Lynch sterling non-gilts index while the 185m core-plus index-linked bond fund will be benchmarked against the FTSE-A British Government index-linked over five years index.

The 163m core-plus sterling bond fund will be judged against the FTSE-A British Government All Stocks index.

All three funds have been seeded by existing clients and will be marketed to institutional investors.

Head of fixed income-EMEA Charles McKenzie says: “The launch of these three funds underlines Aberdeen’s long-term commitment to providing a wide range of fixed-income solutions to meet the varied needs of UK pension schemes.”


Group cover limit raised

Canada Life has raised the limit on the maximum free cover for its group income protection from £90,000 to £100,000.It has also increased the forward underwriting bar on group income protection from 10 per cent to 25 per cent of total benefit and removed the five-year time limit so the bar remains valid indefinitely.Head of […]


Ian Simm

It has taken a while but the rest of the investment world seems to be catching up with Impax Asset Management. Chief executive Ian Simm says that 10 years after it started investing in environmental technologies, many other fund managers have realised there isvalue in the sector.

PPF to change mortality assumptions

The Pension Protection Fund is considering changing its mortality assumptions and may also increase the discount rate.The PPF is responsible for keeping the assumptions used for pension scheme valuations in line with pricing in the buyout market.In the light of recent developments and the expansion of the buyout market, the PPF is considering making some […]

Agency suspends Investec energy AA rating

Old Broad Street Research has suspended its AA rating for Investec global energy after veteran manager Tim Guinness was taken off the £235m fund.Guinness, the chief executive of Guinness Asset Management, had run the fund since May 2003. The fund is second quartile in the Investment Management Association’s specialist sector over three years.Investec has appointed […]

2015: a divergence in economic policy?

As the US continues to confound growth expectations and the eurozone’s ‘will they, won’t they’ saga has finally concluded, what are the implications for global markets? James Dowey, Neptune’s chief economist, puts forward his outlook for 2015 and the key considerations for investors.


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