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MAM offers open-ended version of diverse trust

MAM Funds has set up an open-ended version of its diverse income trust for managing director Gervais Williams.

The Acuim UK multi-cap income fund will be the first open-ended fund to be launched under the Acuim branding, positioned alongside its existing Miton and Midas brands.

Williams will be supported on the new fund, which was revealed by Money Marketing in June, by senior fund manager Martin Turner.

The fund will invest across the market cap spectrum, aiming for a target yield of more than 5 per cent, and will invest in a portfolio of between 80 and 120 holdings.
As part of its multi-cap investment strategy, the fund is expected to take a 10 per cent weighting in blue-chip FTSE 100 companies and a 25 per cent exposure to the FTSE UK Mid-Cap index.

Williams says he has shunned resources companies and banks in favour of the manufacturing sector and the insurance industry as he believes these companies are better positioned to grow dividends.

Close Wealth investment director Andrew Thompson says: “Williams has built up a great reputation investing in the small-cap sector. There are only a handful of funds in the multi-cap income area with a small-cap bias. The mid and small-cap space should provide the potential for growth over and above the large-cap area.”


‘MAS can help spot independent and restricted confusion’

The Money Advice Service says it will be difficult for consumers to understand the difference between independent and restricted advice under the RDR. Last month, the Chartered Insurance Institute called on the FSA and the MAS to do more to explain the different types of advice available to consumers after the RDR. Speaking at a […]

MPC members were unanimous on QE

The minutes from October’s Monetary Policy Committee meeting show all members voted for an additional £75bn of quantitative easing. Members also voted unanimously to keep the base rate on hold at 0.5 per cent. The minutes show the committee considered a range of asset purchases of between £50bn and £100bn. But committee members agreed that […]

King: Time running out to solve global crisis

Governor of the Bank of England Mervyn King has warned that “time is running out” to solve the global economic crisis. Speaking in Liverpool last night, King said that despite a raft of emergency measures, governments had not yet addressed the overspending that has been at the heart of the financial crisis. King said that, […]


Aifa: What we have done for IFAs

There was much amusement this summer as Monty Python references entered the debate about trade body politics. This left some younger members scratching their heads but it did cause me to reflect on that other famous sketch which asked: “What have the Romans ever done for us?” Let’s look at just some of this year’s […]


Out from the long grass? An IT and NI merger

Those with a long memory will recall that at the start of the last parliamentary term George Osborne announced his intention to merge income tax (IT) and national insurance (NI).  Headline grabbing as the initiative was, the reality of the complexities, challenges and costs of such a move resulted in this idea being kicked into the political long grass.


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