View more on these topics

Cazenove to launch diversity income fund

Cazenove Capital has announced the launch of a new multi manager fund, to be run by Marcus Brookes and Robin McDonald.

The Cazenove diversity income fund, which is set to launch in the fourth quarter, will follow a similar investment approach to the existing multi-manager diversity fund, but the emphasis will be more on income.

Unlike the £484m diversity fund, which seeks to achieve a return of the consumer price index plus 4 per cent over the medium-term, the new fund will aim for an average yield of 4 per cent per year and keep capital in-line with CPI.

To achieve this the managers will invest 40 per cent of the portfolio in equities, 40 per cent in fixed income and cash and 20 per cent in alternatives.  This compares with the diversity fund, which is also managed by Brooks and McDonald and recently passed through its five year track record, which holds a third in each of equities, fixed income and cash and alternatives.

The fund, which is subject to Financial Services Authority approval, will carry a £1,000 minimum investment, a 1 per cent annual management charge and a 5 per cent initial fee.

Recommended

3

Is Basel faulty?

Mortgage experts are divided over how the new capital and liquidity requirements decided by the Basel Committee will affect mortgage lending. The committee has developed the rules with the aim of ensuring banks have sufficient capital to weather any downturns without taxpayer support. Banks will be required to hold a minimum core tier one capital […]

IFP back in black and repays directors

The Institute of Financial Planning says it made a surplus of £84,000 in 2009 and has paid back two directors who loaned the trade body £75,000 in 2008. The IFP made a £108,000 loss in the year to December 31, 2008 and borrowed money from directors to help pay for its conference. It borrowed £50,000 […]

Dale warns off MPC detractors

Bank of England chief economist and executive director Spencer Dale has warned off any detractors of the Monetary Policy Committee’s current direction and says inflation is very much still its primary concern. Speaking at the Cardiff Business School last night, Dale said talk of the Government trying to “deflate away” some of the public debt […]

‘How to…audit your auto-enrolment scheme compliance’

Avoid pension penalties with our auto-enrolment checklist

According to the Pensions Regulator’s annual commentary and analysis report released this month, 785 potential non-compliance cases were referred for investigation, with 23 auto-enrolment compliance notices issued. And they predict that the use of their statutory powers is only going to increase.

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