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Distinction portfolio adds value through diversity

Armstrong Investment Management, manager of the Distinction cautious absolute return fixed income fund, is looking at absolute return fixed income and strategic bond funds to provide uncorrelated sources of return.

Armstrong believes these types of funds can add value to the Distinction portfolio as they do not have rigid benchmarks. The portfolio has about 30 per cent in absolute return bond funds and 28 per cent in strategic bonds.

Absolute return funds are seen as a good fit as they have a similar strategy to the Distinction portfolio.

The absolute return funds held by Distinction are Ignis absolute return government bond, BlackRock absolute return bond and Kames absolute return. The strategic bond fund holdings are M&G optimal income, Newscape strategic bond, TwentyFour dynamic bond and Investec strategic.

The specialist fixed-income managers who run the underlying funds will sometimes agree with AIM’s views on fixed-income markets but at other times they will disagree.

The fact that the asset allocation of the underlying funds may not always reflect the overarching views of the multi-manager does not present any problems for AIM. The firm sees the diversity that opposing views can bring to the portfolio as another source of flexibility and uncorrelated returns rather than complicating its own asset allocation decisions.


Standard Life investment funds target corporate pension schemes

Standard Life has launched a new range of investments targeting corporate pension schemes ahead of automatic enrolment. The provider has launched two new risk-based funds built on its MyFolio fund range. Standard has also introduced new auto enrolment default investment options. Standard Life head of corporate marketing Ann Flynn (pictured) says: “Over the past two […]

Euro co-ordination review plan defeated

The Government has voted down a proposal that calls for a review of the way UK and European regulators work together during the first 12 months of the new regulatory structure. In a public bill committee meeting last week, a Labour amendment to the Financial Services Bill that would have mandated a Bank of England […]


FSA clamps down on with-profits MVR charges

The FSA has moved to prevent with-profits providers from charging a market value reduction if they suffer liquidity problems as a result of members leaving the fund. Under the previous rules, providers were allowed to levy an MVR if their liquidity was hit by large numbers of members choosing to leave the fund. The regulator […]


OFT to revoke Yes Loans’ licence

The Office of Fair Trading has decided that Yes Loans, one of the UK’s largest brokers of unsecured credit, is unfit to hold a consumer credit licence. It has also taken action against two associated businesses, Blue Sky Personal Finance Limited and Money Worries Limited. The decision to revoke the licences was taken in light […]

Welcome to The Brunner Investment Trust PLC

Welcome to the latest update for The Brunner Investment Trust PLC from the trust’s portfolio manager Lucy Macdonald. Market Review Global equities ratcheted higher throughout February, buoyed by optimism about global growth and corporate earnings. All regions advanced, although Japan tended to lag many other markets. In sector terms, healthcare, information technology, consumer staples and […]


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