View more on these topics

F&C switches to Veritas for equity income

The F&C multi-manager distribution fund has switched out of the Schroder global dividend maximiser fund in favour of a 2.5 per cent holding in the Veritas global income fund.

The F&C portfolio had held the Schroder fund since launch in 2004 to provide global equity income exposure but the total return has been disappointing in difficult market conditions compared with the Veritas fund.

F&C head of fund of funds Dean Cheeseman says there have been a few global equity income fund launches in recent months but the Veritas fund had the edge over the competition. It has a three-year track record and scores well on F&C’s traffic light screening system.

He also thinks highly of the Veritas team. Its chief executive is former Newton Mellon chief investment officer Charles Richardson and fund manager Andy Headley was previously an equity analyst at the same company.

Cheeseman says: “Veritas global income has been purchased only for the distribution fund, which has 30 per cent allocated to equities.

“The UK represents the lion’s share of the equity allocation, so the easy way to get the necessary global exposure was to buy a global income product.”

Recommended

7IM gives multi-platform views

Seven Investment Management has introduced a facility which allows customers to see their investments with Cofunds and Fidelity FundsNetwork on the 7IM platform.

thimbnail

Almost nine in 10 employers admit failings with post-DRA compliance

The default retirement age (DRA) was abolished more than three years ago, yet new research from Jelf Employee Benefits suggests that the vast majority of employers still have some way to go to fully understand, comply and communicate the landmark legislation change that prevents older employees being forcibly retired on the grounds of age alone.

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