View more on these topics

JO Hambro makes Oeic debut onshore

JO Hambro Capital Management has introduced the JOHCM UK equity income fund, its first onshore Oeic.

The fund will contain between 50 and 70 stocks and will be benchmarked against the FTSE All Share index with a tracking error of between 5 and 8 per cent. It will be managed by former Newton manager Clive Beagles, who joined JO Hambro in September.

Beagles has more than 15 years experience of investing in UK equities and managed the Newtons higher income fund between July 2001 and August 2004. He will be supported by UK equity analyst James Lowen, who worked with Beagles at Newton.

The new fund will have an initial target yield of at least 4 per cent. Beagles will be looking for stocks with yields above the FTSE All Share average and will sell stocks immediately if the yield falls below the FTSE All Share average, regardless of whether he still likes the stock.

A 750m cap has been placed on the fund because Beagles feels that if the fund was larger it would take longer to get in and out of stock positions which would have a negative impact on performance over time.

Although JO Hambro is a relatively small fund management group it has some advantages over larger groups. There is no investment committee, so fund managers can get on with managing funds rather than implementing committee decisions. However, Beagles no longer has Newtons large team of analysts behind him and it may take time for him to adjust and replicate the performance of his Newton fund.

According to Standard & Poors the Newton higher income fund is ranked 7th out of 66 funds based on 1,000 invested on a bid-to-bid basis with net income reinvested in the three years to August 2, 2004.


Recommended

Premier rolls on

Premier Asset Management has brought out the Premier growth plan limited editions no 23. This is a FTSE 100 linked capital-protected bond which has the potential to mature each year during its six-year term.

Freedom Finance changes name of mortgage arm

Freedom Finance is changing the name of its mortgage lending business to Freedom Lending to avoid confusion among mortgage intermediaries. Freedom Finance has three distinct distribution channels – a lending proposition, a loan and mortgage brok-ing and packaging service – and Mortgage Next, which supports appointed representatives and directly authorised brokers. It says that as […]

Pension savings-2015

Pension tax relief: parked (for the moment)

The national news agenda has been dominated by pension issues this month. For those that missed it (and there cannot have been many given that this was the lead story in spoken and written media), the Chancellor announced a decision to make no decision on pension tax relief in his 16 March 2016 Budget speech. To […]

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