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Invest & Give fund to be wound up

Invest & Give, an investment fund that supports The Prince’s Trust, is winding up after failing to attract enough assets to make it viable.

The multi-manager fund, run by John Husselbee at North Investment Partners, launched last year and had the backing of 12 UK fund groups.

The plan was to donate 0.6 per cent of the fund’s total annual charge of 2.25 per cent directly to The Prince’s Trust through the sale of shares twice each year.

Despite a planned intermediary campaign however, which saw the hiring of Angus Duncan – former head of distribution at Smith & Williamson – as head of distribution in March, the fund only attracted marginal assets.
A statement at says: “The cost of running an unviable fund would become disproportionate with a constant impact on performance.

“The Authorised Corporate Director, IFDS Managers Limited, has commenced the process of seeking the necessary regulatory approvals to allow an orderly closure of the fund and will contact holders of the fund shortly.”
Duncan’s involvement with the fund will end in the middle of next month. He says: “Husselbee did well as manager but it proved impossible to break the link that while people give from the heart, they invest with their head. Giving and investing are two very different things.”

Duncan expects the closure to take between three to four months.



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