Liontrust fixed income, GARS outflows and EdenTree’s carbon footprint: August fund round up


Liontrust enters fixed income

Liontrust will launch three fixed income funds after hiring David Roberts and Phil Milburn, whose exit from Kames Capital was announced this week.

The pair will join Liontrust’s Edinburgh office, where they will launch the Strategic Bond, High Yield Bond and Absolute Return Bond funds.

Roberts is currently head of fixed income while Milburn is head of investment strategy. Kames has announced that Stephen Snowden and Adrian Hull will become co-heads of fixed income with immediate effect.

SLI GARS suffers outflows

Standard Life Investments’ global absolute return strategies range has been hit by outflows again as the manager attempts to stem the flow of assets from the product.

Standard Life’s half year results today reveal that GARS, which targets cash plus 5 per cent over three years with minimum risk, saw £5.6bn in net outflows over the first six months of the year. £2.8bn came in the first quarter.

Neptune closes US fund

Neptune is planning to close the US Mid Cap fund following the departure of manager Patrick Close.

The fund has only attracted £500,000 in assets since its launch last year, despite outperforming the IA North America sector with returns of the 19.7 per cent against the 15.3 per cent average, FE data shows.

OMGI launches CoCos fund

Old Mutual Global Investors has launched its first CoCos fund as new research suggests there is a resurgence in asset allocation to convertible bonds.

The Old Mutual Financials Contingent Capital fund will be managed by Lloyd Harris and Rob James with 75 per cent in contingent convertible bonds, while 25 per cent will go to equity instruments, collective investment schemes, cash, and government or other bonds.

EdenTree funds improve carbon footprint

EdenTree has slashed its carbon footprint in the Amity fund range up to 35 per cent over the last year, although its European fund has seen emissions from its portfolio increase over the period.

However, all funds in the Amity equity range are less carbon intense than their FTSE benchmarks with the UK fund in particular delivering 57 per cent less emissions than the All Share index.

Cavendish shakes up funds offering

Cavendish Asset Management is cutting the fees across its fund range following the merger of seven portfolios and the closure of the A share classes.

The merging of funds aims to streamline asset allocation and reduce costs.

The Cavendish North American, Asia-Pacific excluding Japan, Japan, Europe, Technology and UK Select funds are being merged into the TM Cavendish Worldwide fund, which Cavendish manages on behalf of fund provider Tutman.

Australian asset manager brings fund to UK investors

Australian asset manager Antipodes Partners has set up a Ucits version of its long/short global equity fund for UK and European investors.

The Antipodes Global Fund – Ucits was launched with $125m of cornerstone assets.

Antipodes has also opened a London office.