Firm merges strategies into absolute offering

JO Hambro Investment Management (JOHIM) is merging two strategies as its reorganisation of its Waverton range draws to a close.

Its Waverton UK Premium strategy, which was not marketed and had no assets under management, has been merged into its Waverton UK Absolute fund.

The UK Premium strategy used put options to provide 100% capital protection. The UK Absolute fund can deploy put options to protect 50-100% of capital on top of a UK large-cap portfolio. (article continues below)

The UK Absolute fund generates additional returns by selling covered call options and is run by Russell Wallis and Simon Wilson.

James du Boulay, the manager for UK fund distribution at JOHIM, says the asset manager will market the UK Absolute fund to multi-managers and discretionary wealth managers.

JOHIM had announced the launch of the UK Premium and Absolute strategies in January to complement its Waverton UK fund, which runs a concentrated selection of 30-35 multinational stocks.

They were initially only available through the UK private banking arm of Credit Suisse, which owns JOHIM.

Du Boulay says Credit Suisse’s sale of fund management assets to Aberdeen last year could help distribution of the Waverton fund range, which has undergone a reorganisation over the past year.