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RLAM plans absolute fund

Royal London Asset Management plans to launch an absolute return bond fund aiming at Libor plus1 per cent in the second quarter of 2006.

The fund is to be run by head of fixed interest Jon-athan Platt and his team. The RLAM income trust, which Platt runs with Sajiv Vaid, has ret-urned 40 per cent over the five years to September 5.

The firm increased life and pension sales by 30 per cent to 115m in the first six months of 2005. Net business for the period was 450m but the majority of the firm’s fixed- interest money has been institutional. It now wants to exp-loit retail investors’ desire for absolute return products.

Platt says: “We would like to capitalise on the retail market. I expect IFAs to back us because of our stockpicking ability in the fixed-interest market and people will say if I can get more return than cash with roughly the same risk, then I will do it.”

Jamieson financial management principal Bruce Jamieson says: “I have used the income trust in the past and it has done very well but gone largely unrecognised at only 240m. The firm seems to know what it is doing on the fixed-interest side.”


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