Investec Asset Management is to rename its Guernsey-domiciled multi-asset Trio fund. The Trio fund, which is approaching its fifth anniversary, is to be renamed the Global Diversified Growth fund to better reflect the expectations of the market.”[The original name of the fund] was a very broad description of the asset classes in the fund; equities, bonds and alternatives,” says David Aird, the managing director of Investec Fund Managers. “That still holds true but the market has generally referred to these products as multi-asset in the retail space or diversified growth in the institutional space.”
The £72.7m fund, managed by Philip Saunders, was launched in October 2003 and has produced an annualised return of 9.3% as at July 31. It has had a sterling share class since July 2007 and has a minimum investment of £10,000.
The success of the fund has attracted the attention of IFAs and some advisers have been suggesting that Investec expand its multi-asset offering.
Tim Cockerill, the head of research at Rowan, says difficult market conditions should help draw interest into products that offer a diversified investment strategy.
“I think there is increasing demand [for multi-asset funds] because of the way markets are at present,” he says. “If anybody can come forward with a product and a strategy that can steer through these markets they would be welcomed.”
Cockerill says these vehicles have focused on traditional asset classes such as equities and fixed income but if there was a product that offered exposure to alternative assets it would be of interest.
Aird says although there are no definite plans to date to expand the multi-asset range at Investec the firm will remain sensitive to demand in the marketplace.
“We are aware that it’s an interesting area and, like all good asset managers, we will be looking to see if demand is growing,” he says.
In the meantime, Aird says the company is planning to roll the multi-asset business out further into Investec’s different distribution channels.