View more on these topics

Smith & Williamson’s James Burns drops M&G Optimal Income fund

James Burns
James Burns

Smith & Williamson head of multi-manager James Burns has dropped Richard Woolnough’s £12.6bn M&G Optimal Income fund from the £34m MM Endurance Balanced fund.

Burns says he sold the M&G Optimal Income fund to reduce exposure to the credit space and reinvested in two investment trusts, the Harbour Vest Global Private Equity and the Forterra Trust.

He says: “The Harbour Vest Global Private Equity fund is trading at a discount of 30 per cent and the Forterra Trust, which invests in commercial property in China, is trading at a big discount of about 65 per cent.”

Charles Stanley head of investment research Ben Yearsley says there is concern about the size of Woolnough’s fund.

Yearsley says: “It is a massive fund and there are clearly concerns about its size and whether Richard Woolnough can continue managing it in the same format.”

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