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Focus Capital setting up multi-assets fund

New multi-manager Focus Capital is set to launch a multi-asset class emerging markets fund of funds in the new year.

The firm, headed by former Standard Asset Management chief investment officer John Cleary, was established in September as a specialist global emerging markets boutique.

The fund will invest glob-ally in emerging markets across asset classes, including equities, bonds and hedge funds. This is seen as particularly useful in reducing emerging market risk as these regions can be one of the more volatile asset classes.

Focus Capital believes asset allocation is responsible for most of the return in a port-folio. The new fund, which will be Dublin-listed, will invest only in funds managed by long-established emerging market specialists and can move 100 per cent invested in cash if deemed necessary.

The starting point for asset allocation will based on what stage of the investment cycle the management team believes the economies are presently followed by where a country sits in terms of investable assets. Some emerging comp-anies only have equities markets while the bond markets in another region may be stronger.

Focus Capital says it will market the fund to profess-ional investors and advisers but as a product for sophisticated investors. It will not be available directly to clients.

Managing director John Cleary says: “Emerging market funds need the ability to be dynamic, to jump between markets and asset classes. We think the investor base is getting better at distinguishing between emerging market countries and assessing risks and implications. They do not discriminate against one region as a result of something going on in another country.”

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