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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.”

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