View more on these topics

Cazenove delays aggressive plans

Cazenove has postponed the launch of an aggressive version of its multi-asset diversity fund until the first quarter of next year.

The company had initially planned the launch for the last quarter of 2008, with a further fund planned for early 2009 but have decided to push the plans back due to market conditions.

The £189m diversity fund reached its three-year anniversary in September 2008, topping the IMA cautious managed sector over that period. It currently stands fourth in the sector.

A number of launches have already been shelved in light of market volatility, including absolute return funds from both Gartmore and Ignis boutique Argonaut and Schroders’ agricultural land trust.

It is understood the Gartmore aggressive version will not have the same asset requirements as diversity, which invests one-third each in equities, alternatives, fixed interest and cash, while the new fund will look to allow investors to tap into market trends to a greater extent when markets are more bullish.

Cazenove head of multi-manager Marcus Brookes says: “We are still keen to add to the diversity range but in the right type of market and the past couple of months have clearly been difficult.”

Recommended

FSA freezes broker’s assets

The FSA has frozen the assets of Heaney Finance mortgage broker Noel Heaney after it found he gave unsuitable advice to consumers and refused to conduct a past business review.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    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

    Email: customerservices@moneymarketing.com