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Way looks to balance existing Fof offerings

Way Fund Managers is introducing a fund of funds to fill the gap between its existing portfolios in the Investment Management Assoc- iation’s cautious and active managed sectors.

The global total return portfolio will be managed by IMS fund manager Paul Kim and invest in a mixture of high-yielding equity funds, bond funds and cash.

The minimum investment will be 5,000. It will have an initial charge of 5 per cent, of which 3 per cent is available as initial commission. The annual management charge of 1.45 per cent will include 0.5 per cent renewal commission.

Chairman Paul Wilcox says: “We have been growth-orientated in the past and felt we needed a fund in the middle to provide a bit more value. We have funds in the cautious, balanced and active sectors but the balanced fund is a pale imitation of the one in the active sector. We want to give the new fund a bit more resilience than the balanced fund. We are launching the new fund as a Nurs fund to give us the ability to be defensive.”

Meanwhile, Aberdeen Asset Management is overhauling its balanced managed fund to enable it to invest in other funds. It will also be rebranded as the Aberdeen multi-asset fund.

Investment in collective investment funds will be used sparingly and restricted to Aberdeen funds,but the company says it will not become a fettered fund of funds.

Spokesman James Thorneley says: “The changes to the fund reflect what is going on in the marketplace. Invest- ors in traditional balanced managed funds are looking for more diversity – exposure to property, private equity and a wider range of asset classes such as emerging market debt.”


Exit probe is delaying watchdog’s decisions

The FSA’s investigations into mortgage lenders’ exit fees is forcing the Financial Ombudsman Service to delay its adjudication decisions on complaints.The watchdog says it is waiting for regulatory guidance before proceeding with complaints and spokeswoman Emma Parker says: “The numbers are still low but we will wait for the FSA in some cases.”The FSA met […]

Debt data rethink after industry split

Plans for a data-sharing service to help lenders with the consumer debt crisis have been scaled back after failing to achieve industrywide support. The Personal Credit Dashboard initiative was devised by Apacs, a trade body for payment services. It was initially designed to enable the Council of Mortgage Lenders, the British Bankers’ Association and the […]

Boot polish

Youngsters could learn all they need to know at a financial boot camp

F&C losses hit 29m

F&C Asset Management made a loss of 29.2m in the first half of this year after seeing significant institutional outflows. The firm lost 2.83m in the same period last year. Funds under management at June 30 were 107bn compared with 131bn at the start of the year despite strong retail market inflows which increased by […]

 Article 50 Q&A: The negotiations to watch for 

Holly Cassell, Assistant Manager of the top-performing Neptune UK Mid Cap Fund, discusses the potential near-term impact of Article 50 and the Brexit negotiations that she believes investors should pay most attention to. Read article here Important information  Investment risks  Neptune funds may have a high historic volatility rating and past performance is not a […]


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