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Brown Shipley to drop Solus tag and alter fund range

Brown Shipley is ditching the ‘Solus’ tag on its £200m fund range in a rebrand the group hopes will raise the profile of the company.

Brown Shipley is ditching the ‘Solus’ tag on its £200m fund range in a rebrand the group hopes will raise the profile of the company.

Several changes are also being made to the fund range in order to appeal to a wider adviser audience.

Peter Botham, chief investment officer, says he is trying to raise the profile of the group but this has proved difficult when trying to promote two names. Therefore, the funds will no longer be prefixed Solus, but will all be under the Brown Shipley brand.

Also the £9m UK Special Situations fund is to be merged into the UK Flagship fund creating a £35m vehicle on August 15, subject to shareholder approval.

Botham explains this is owing to the size of the UK Special Situations fund.

He says: “It has dwindled in size over the years to £9m and it is difficult to think that people will put lots of money into UK Special Situations now—they are more focused on core funds.”

John Smith, the manager of the UK Flagship fund, will continue to run the enlarged vehicle while the UK Special Situations manager, Paul Harwood, will continue to work with the investment team.

Brown Shipley has also decided to revamp its multi-manager range. Previously this consisted of Growth, International excluding UK, and Balanced all run by Michael Clarkson.

The Balanced fund is to be converted into an income-focused mandate under the stewardship of Botham. He says: “Our view is that Balanced funds are no longer attracting attention or new money as they fall between several different stools. We will re-orientate the fund slightly to an income portfolio which is clearly a big target for most people.”

He adds this will also benefit current holders as there will not be a significant change in structure but a higher income.

Botham has also decided to widen the remit of the fund so that it has more of a multi-asset portfolio which is able to invest in equities, bonds, investments trusts, Exchange Traded Funds (ETFs) and other collective investment schemes within the Investment Management Association’s restrictions.

The MultiManager Income fund will also move from the Balanced Managed sector to the Cautious Managed.

The two Oeic umbrellas, which hold the five sub-funds including the group’s Corporate Bond fund, will also be converted to Ucits III mandates allowing them to make use of extra powers to enhance performance although Botham anticipates these will not be used for some time yet.

International Financial Data Services (IFDS) has also been appointed authorised corporate director (ACD) to the fund range and, therefore, the funds will also adopt the IFDS prefix.

Related Articles:
Shipley chief prompts changes to Solus range



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