New Star Asset Management is offering what it believes to be the first cautious managed fund offering exposure to three asset classes within a non-fund of fund structure.The Tri-Star unit trust will invest in UK property, equities and bonds in roughly equal amounts and will be managed by joint deputy chief investment officer Gregor Logan. Logan is responsible for asset allocation, determining the appropriate weightings in UK equities, bonds and commercial propertyStephen Whittaker will then pick the UK equity holdings, Roger Dossett will select commercial property investments and James Gledhill will decide on bond holdings. The property assets will be 75 to 90 per cent in direct property investments. The fund, which launches on June 12, will look for a net income yield of 4 per cent. It has a 5 per cent initial charge and a 1 per cent discount will be available for lump-sum investors during the offer per-iod, which expires on June 30. Logan says the weighting of each asset class can be increased up to 50 per cent or decreased down to 20 per cent of the total fund if it is over or underperforming. He says: “All three are experienced managers with different approaches. Whittaker has a top-down approach and buys shares at low yields, looking for opportunities to add value. “Gledhill specialises in high-yield corporate bonds, which will be about 40 per cent investment grade.”
Global Emerging Markets Equity Freestyle Fund
Offshore life products could see a surge in popularity after the Revenue put the squeeze on offshore bank accounts earlier this month, says Scottish Equitable International head of marketing Steven Whalley. He says after the Revenue forced Barclays to hand over details of customers’ offshore bank accounts, many investors will look at offshore life products […]
Brokers and lenders have come in for criticism for profiteering and failing to give proper advice on overseas mortgage applications. Overseas specialist broker Conti Financial Services managing director Simon Conn says some providers are guilty of serious abuses by advising consumers to remortgage and use the cash to buy abroad rather than take out a […]
Montpelier has increased its shareholding in Millfield from 10 per cent to 14.76 per cent, making it the second-biggest shareholder behind Amvescap with 21.5 per cent.
Re-enrolment is a sizeable task, and requires proper planning. You must ensure that eligible staff who are not already in your auto-enrolment pension scheme are put back into it.
- Top trends
News and expert analysis straight to your inboxSign up
Latest from Money Marketing
The Financial Services Compensation Scheme has declared self-invested personal pension operators Stadia Trustees, Brooklands Trustees and Montpelier Pension Administration Services in default. The lifeboat fund has received around 150 claims for compensation relating to the three businesses. Those claims relate to how the businesses set up, operated and administered Sipps through which people invested in […]
The Department for Work and Pensions has confirmed it will not change the pensions triple lock and will explore bolstering the powers of The Pensions Regulator in the forthcoming legislative period. The DWP published its “single departmental plan” yesterday, which sets out five objectives it is working towards over the next four years. It has […]
Sam Seaton talks about how her interest in people affects her approach to technology