The Cavendish UK balanced income fund invests in equities and bonds. Julian Lewis, the group’s chief executive, manages the new fund. It is the second mandate for Lewis, who also runs the Cavendish worldwide fund.
Lewis says that while both new funds seek to generate an attractive level of return, they will not sacrifice exposure to capital growth.
Paul Mumford is manager of the Cavendish UK select fund. He will focus on companies within the FTSE 350. He also runs the group’s flagship UK-based opportunities fund.
Following the 15 per cent fall in dividends in 2009, he says, the outlook for this year is being rightly forecast as the slow return of the dividend.
Last year, Cavendish launched four funds: Cavendish technology, Japan, North American and European.