Liontrust closed strategic bond fund
Michael Mabbutt and Felix Martin, co-managers of the Liontrust GF Global Strategic Bond Fund have resigned and as a result of the departure Liontrust is closing the £33m fund. According to the firm, dealing in the fund was suspended on 15 January 2016, and it will be wound up on 29 January 2016. According to FE Analytics data the fund has returned -8.38% since launch, although over one year it has produced a return of 6.7%.
Griffon Capital launched Iran fund
Griffon Capital launched the Griffon Iran Flagship Fund, which will invest in Iran’s public equity market and aims to provide a well-regulated and transparent institutional grade platform through which foreign capital can be invested in Iran.
The Cayman domiciled fund is an open-ended vehicle investing predominantly in the Tehran Stock Exchange (TSE) and Iran Fara Bourse (IFB). The fund is targeting UK, European and GCC HNWIs, family offices and institutional investors and aims to attract an estimated €100m by year end.
Homan Harandian, CEO of Griffon Capital said: “The lifting of sanctions on Iran has created an unprecedented opportunity for investors. The Iranian economy has strong fundamentals and is expected to grow at an average rate of 4-6% per annum over the next five years.”
Hargreaves Lansdown launched multi-manager fund
Hargreaves Lansdown has launched a new multi-manager fund. The Multi-Manager Strategic Assets Fund, co-managed by Roger Clark and David Smith will have an initial asset allocation of 35% equities, 44% bonds, 16% cash, 4% commodities and 2% in other assets.
Tilney launched smart beta-focused multi-asset range
Tilney BestInvest subsidiary, Tilney for Intermediaries, has launched a range of five risk-rated, multi-asset funds. The IFSL Tilney Bestinvest Advanced Passive Portfolios will invest in both traditional low cost tracker products and advanced passive or smart beta investments.
Co-managed by Lewis, and director of investment strategy Ben Seager-Scott, the five passive funds will replicate the asset allocation approach on sister funds in Tilney Bestinest’s exisiting £1 billion strong Multi-Asset Portfolio fund range.
Legal & General IM expanded index funds range
Legal & General Investment Management (LGIM) launched a global real estate index fund and announced the imminent launch of an emerging markets government bond index fund. The L&G Global Real Estate Dividend Index Fund tracks the performance of the FTSE EPRA/NAREIT Developed Dividend Plus Index and provides exposure to global developed market property companies and real estate investment trusts (REITs).
Troy launched Trojan Ethical Income Fund
Troy Asset Management launched the Trojan Ethical Income Fund on 6 January, managed by Hugo Ure. The Trojan Ethical Income Fund will typically hold between 35-50 stocks. It will invest within the parameters of specific criteria which excludes investments relating to fossil fuels, pornography, tobacco and certain types of armaments. The fund can hold up to 30% in overseas stocks, which will be chosen in line with the manager’s process of bottom-up stock selection.
