View more on these topics

DWS sets up fettered Fof and corporate bond fund

DWS Investments is offering a fettered fund of funds and a corporate bond fund seeking the best-value debt worldwide as part of its bid to break into the top 10 UK investment companies.

The managed distribution Fof, to be run by managed portfolio fund manager Jonathan Arthur, will invest in DWS&#39 flagship funds, with a 50/50s split between equity and bonds. Arthur will be able to vary this mix to reflect market conditions although there will be no more than a 60 per cent bias towards either asset class.

The fund, which will aim to yield 4-4.5 per cent, will be an Oeic with a single share class. Charges are 4.25 per cent initial and 1.25 per cent annual.

The corporate bond fund will be run by Charles McKenzie, manager of DWS&#39s corporate bond plus fund. It will seek to provide income and growth by investing in the best-value investment-grade corporate bond funds worldwide and hedging returns back into sterling. It will also aim to yield around 4-4.5 per cent.

Charges are 4 per cent initial charge and 1 per cent annual. Both funds are expected to launch in November.

Commission is yet to be determined.

Managing director Michael Warren says: “We are launching these funds purely for investment reasons. As they are reasonably low risk, we hope to capture some of the assets that have been stuck in deposit accounts for too long.”

Best Invest business development manager Justin Modray says: “Both funds are welcome although investmentgrade bond funds always struggle for meaningful outperformance while the distribution fund will have its work cut out against the funds of Jupiter and New Star.”

Recommended

Schroder&#39s Humphrey van der Klugt to retire

Humphrey van der Klugt, manager of the flagship Schroder UK equity and Schroder income funds, is to retire in January after nearly 22 years with the group. The £621m equity fund will be taken over by senior UK equity manager Christopher Metcalfe while the £475m income fund will be run by Nick Purves, Schroders&#39 most […]

Mike Kellard

Even at 17, Mike Kellard showed signs of being a clever businessman. Working as a waiter in a hotel restaurant, he discovered that putting a little extra effort into making the customer&#39s experience enjoyable earned him more in tips than wages. “You could make a significant difference not only to your customers but for your […]

AMI gains 2000 members

The Association of Mortgage Intermediaries has announced it now has 2000 members.

&#39Savers missing opportunities&#39

Despite being thought of as a nation of borrowers, Britons are saving but failing to make the most of investment opportunities, says the latest survey by Halifax Financial Services. The research carried out by NOP shows that 67 per cent had money in a bank or savings account, with 72 per cent of men more […]

Partied out and penniless

December has left me destitute. My piggy bank lies broken and empty, my lunchtime meal deal feels like an extravagant expense and I’m down to the Bountys in my box of Celebrations. But I won’t mourn my dearly departed pennies. Between buying gifts for loved ones (then deciding to keep them for myself) to treating […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment