Kames said the launch followed the successful implementation of a global equity income strategy for institutional investors, run since January 2011.
Hillier joined Kames in March after he lost his role as CIO at LV= Asset Manager following its outsourcing of its investment management to Threadneedle.
This is his first fund for Kames, and as a Dublin-registered fund it will initially be available to investors in the UK, Channel Islands, Ireland, the Netherlands and Switzerland.
The aim of the fund is to provide investors with capital growth and income over the longer term with an objective of outperforming the MSCI World Index on a rolling three -year basis.
Meanwhile, Kames’ chief executive Andrew Fleming has announced the firm’s strategy for the UK’s Retail Distribution Review, with RDR -ready share classes in the form of the launch of a new ‘D’ share class and changes to its existing ‘A’ and ‘B’.
The D share class is designed to accommodate new adviser investment after the implementation of RDR, as well as ‘bundled’ investments through investment platforms.
It will consist of an initial 2.5% charge for equity investments (1.5% for bond funds) and an annual management charge of 1%. There will be a minimum investment limit of £250,000.
The ‘A’ share class will remain open for legacy business, direct investors and some ‘bundled’ platform sales. It will see the initial charge dropped to 2.5% for equity and 1.5% for bond funds with a 1.5% AMC.
Commenting on the fund launch and the firm’s new strategy, Kames’ head of retail sales Steve Kenny, said: “The Kames Global Equity Income Fund marks a new direction for Kames Capital as we look to enhance our proposition utilising the skill and experience of Piers and the new impetus for overseas equities he has brought. The fund will bring together the best of Kames investment capabilities in a portfolio of high conviction ideas.
“With respect to our RDR strategy we have taken the opportunity to evaluate the direction of the market and to then take a very considered approach to our strategy, building on our existing base but also allowing for the new types of investment we expect to see post RDR’s implementation.”
