The VAM Close Brothers Cautious Fund, a Luxembourg domiciled UCITS, follows the establishment of the VAM Close Brothers Balanced Fund in July 2015.
The discretionary range will be completed by the VAM Close Brothers Growth Fund, which is due to be launched before the end of the year.
Nigel Watson, VAM Funds sales director, said: “The response from advisers to the Balanced Fund launch has been extremely positive, with the high levels of fund flows over the traditionally quiet summer period taking us pleasantly by surprise.”
He added that the strong inflows continued into the autumn and average subscription levels were considerably higher than usual, suggesting the fund is being used, as intended, as a core part of investors’ portfolios.
Watson also said advisers could de-risk client investment portfolios and their own businesses by using discretionary funds, pointing out that the market volatility experienced over the summer had in some ways helped to make this argument.
This was because investors and their advisers had been able to see the attractions of lower risk, professionally managed portfolios, he said.
In July, VAM and Close Brothers Asset Management announced they were entering into a strategic partnership to meet growing demand from non-UK-based advisers and their clients for discretionary fund management services.
A recent International Adviser interview with Nancy Curtin, chief investment officer of Close Brothers Asset Management, sets out the underlying investment strategy.
