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IMS set to take over Lincoln fund duo

Lincoln Financial Group is set to convert two of its fettered funds of funds into unfettered vehicles next quarter.

The managed and global trusts are currently run by Goldman Sachs Asset Management but will be taken over by multi-manager specialist IMS if unitholders give the green light.

The fettered approach was felt to be too restrictive for funds with managed and global mandates as Lincoln believes they should have access to a wider range of funds and managers.

Lincoln already outsources the management of its life funds, pension funds and staff benefits plan to IMS, which is active in the pension market, while Goldman Sachs manages the majority of Lincoln’s 13 unit trusts.

Subject to the unitholder vote, Goldman Sachs will continue to manage seven funds in the range, as Lincoln is happy with the performance of these, particularly the Japan trust which it says has improved recently.

The managed trust was launched in 1990 and aims to deliver a solid income along with capital growth. The global trust was launched in 1986 and is more aggressive in seeking growth.

Lincoln senior investment analyst Will Hale says: “We have an existing relationship with IMS so we feel that any changes will be a natural progression of this. IMS has a very convincing screening process and an experienced team who know the industry well. Moving the mandates to IMS plays to its strengths in asset allocation and in picking managers. It is a specialist in that space. With Goldman Sachs, we were limiting it to internal managers.

“We have no plans to change the manager on the rest of the funds. We have a long-term strategic relationship with Goldman Sachs and we are are happy with it particularly the improved performance of the Japanese fund.”


Rightmove set for legal action over Hip

Rightmove says it is considering launching a multi-million pound legal action against the Government after its U-turn on home information packs. The news comes as the Government last week apologised to home inspectors after it said in July that home condition reports would be made voluntary from June 2007. Rightmove pulled its Hip, which cost […]

Marlborough cuts special sits’ charge

Marlborough Fund Managers is reducing the 5 per cent initial charge to 3.25 per cent on direct investments into its 126m special situations fund until October 31. Managed by Giles Hargreave, the fund has returned 580 per cent since Hargreave took it over in July 1998.

FSA believed agreement existed

The FSA stood by its view that a section 44 agreement was always in place for Colonial Mutual UK Holdings Group until December 2005 when the endowment claimants requested this to be backed up in court. The regulator then conceded there had been no written agreement. Despite repeated refusals from Winterthur to produce a copy […]

Board reshuffle for Money Quest

A board reshuffle at Money Quest has seen managing director Steve Pollard become the company’s first chief executive officer and operations director Paul Reynolds move up to become managing director. The firm is taking on 150 new staff as part of expansion pans ahead of a planned flotation within the next couple of years.

Childcare - thumbnail

Three questions for employers…

The Family and Childcare Trust’s annual survey has been widely reported in the media and the two headline figures were these: the average cost of a nursery place for a child under two has risen by 33 per cent since 2010; and the costs have risen by five per cent in a single year.


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