Aegon Asset Management is to introduce a multi-asset fund aiming for an annual return of 10 per cent over a three-year period.
The strategic assets fund will launch on March 1 and will com- prise predominantly long- only investments, principally in equities and fixed income.
The fund will be placed in the IMA cautious managed sector. Management will be split between William Dinning, head of investment strategy, and Sean Flanagan, of multi-asset group.
Minimum investment is £500. Initial charge is 5.5 per cent, which is discounted to 2.5 per cent for lump sum investment until March 1, 2012. Annual charge is 1.5 per cent.
Head of sales retail Steve Kenny says: “For the first time, retail investors will benefit from the expertise of our multi-asset group, which was previously the preserve of the institutional and professional investor. The fund is specifically aimed at the retail market and is designed to be easily understandable for the general investor while targeting an annual return of 10 per cent across all market conditions.”
AWD Chase de Vere head of communications Patrick Connolly says: “Investing in a range of different assets is a sensible approach. Aegon is a reasonably good equity and fixed-interest manager, so that makes this fund worthy of consideration. However, I am completely against people publicly stating what they are trying to target. It risks setting unrealistic investor expectations.”