Rathbones to add UK income fund to Sicav range

Added 8th September 2016

Rathbone Unit Trust Management said it plans to launch an offshore version of the Rathbone Income Fund for investors based in Continental Europe.

Rathbones to add UK income fund to Sicav range

The proposed new fund will be Luxembourg-domiciled and invest via a master-feeder structure into the Rathbone Income Fund, which is managed by Carl Stick and supported by the Rathbone income team.

Stick said: “Our focus has always been on the mitigation of downside risk, as well as the generation of total returns, and we have always favoured sustainable dividends over higher, riskier yields – these tenets focus our minds and our investment discipline.

“While there continue to be many opportunities in the UK, our challenge over the next 18 months is to navigate volatile markets. Some areas will continue to look over-valued, but there will also be some great companies on sale.”

The new offshore fund is expected to be launched in October, subject to regulatory approval, and will be marketed predominantly to retail investors via financial advisers, life companies and providers of Recognised Overseas Pension Schemes (ROPS) in the UK and in Europe.

The investment process and objective of the fund is no different to that of the master fund in the UK. It have sterling and euro share classes at launch and there is the ability to create dollar share classes if there is sufficient demand.

The initial focus for distribution will be on Belgium, Ireland, Spain and France. Once approved by regulators, the sub-fund will be part of Rathbones’ Sicav umbrella that was launched in May this year.

This umbrella already holds the offshore feeder funds for the Rathbone Ethical Bond Fund and the Rathbone Multi-Asset Total Return, Multi-Asset Strategic Growth, and Multi-Asset Enhanced Growth Portfolios.

Mike Webb, chief executive of Rathbone Unit Trust Management, said: “The addition of the Rathbone Income Fund, as a master feeder structure to our Luxembourg range, will give investors access to our longest-standing fund in the UK.

“With a tried and tested process led by Carl Stick, the fund has produced an enviable performance record, including a long history of income growth. It has an attractive and sustainable starting yield, as well as good prospects for growth.”

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Vincent McEntegart, manager of the Kames Diversified Monthly Income Fund, explains how he aims to deliver a stable and sustainable income of 5% p.a.*, paid monthly, by investing in a range of asset classes

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Richard Hubbard

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Richard Hubbard is the group editor at Last Word. He is responsible for the editorial content of International Adviser, Portfolio Adviser, Expert Investor and Fund Selector Asia. Richard previously worked for Thomson Reuters and has covered the financial services industry and investment themes from its offices in London, Singapore, Hong Kong and New York. Richard started his career at the Australian Financial Review in Sydney.



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