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Neptune diversifies income

Neptune Investment Management’s global income fund was designed to enable investors to diversify income outside of the UK.

The fund managers believe dividends are an important source of return as they form a large part of the total return. They also feel that emerging markets are worthwhile investments as dividend growth is likely to be higher than in other regions.

The fund is managed using a team approach, with four Neptune managers each running different elements of the portfolio. Chief investment officer Robin Geffen, who also manages the income fund and global equities fund, will manage the UK element. Head of research and Japanese equities Chris Taylor will focus on Japan, head of European equities Rob Burnett will focus on Europe while head of US equities Felix Wintle will manage the US part of the portfolio.

The fund will aim to provide income above the MSCI Worl Index, plus capital growth by investing in global equities and fixed interest. There are no specific geographical weightings and asset class weightings, and the fund managers can also take tactical positions in cash and near cash if deemed appropriate.

It used to be the case that clients and IFAs looked mainly to the UK in the pursuit of income as this is where the higher yields were to be found. Now this is no longer the case as corporate restructuring in Asia and developments in emerging markets have led to companies in these regions starting to pay high dividends.

For investors who want to take an international approach to income, the choice of funds is limited so this fund may be a welcome addition. Although Sarasin Chiswell recently launched an international equity fund, as the name suggests, the focus is on equity income, with limited use of fixed-interest.

This fund goes one step further by offering a higher level of diversity within asset class as well as geographical diversity and access a range of fund managers within the company.


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