FUND MANAGEMENT NEWS
SANLAM LAUNCHES AFRICAN FUND
Sanlam Investment Management have launched a Ucits African Frontier Markets Fund. The minimum investment stands at £1,000, with a performance fee of 20 per cent and management fee of 1.75 per cent. The fund, managed by Eric Kibe, exploits African equities’ low correlation with mainstream global equity markets by investing in companies, with a potential return in line with long-term capital growth. The fund will select stocks on a bottom-up basis and intends to invest in companies that are priced lower than their fundamental value.
AIC FINDS LOW CHARGES
The Association of Investment Companies (AIC) has discovered that nearly a third of investment companies have charges of less than 1 per cent a year. 60 per cent of global growth investment companies and 58 per cent of UK growth and income investment companies have charges under 1 per cent, measured by the total expense ratio (TER). The figures don’t take account of performance fees, though. The lowest cost AIC member was Edinburgh US Tracker Trust with a TER of 0.38 per cent, followed by Canada Investment Trust at 0.43 per cent.
NEW CREDIT FUND MANAGER FOR AVIVA
The new socially responsible investng (SRI) credit fund manager for Aviva Investors, Colin Purdie, joins the company from a background at Charles Stanley and Aegon Asset Management. His position will see him working to incorporate environmental, social and governance factors into appraisals of credit investments. He will also be responsible for the overseeing of Aviva Investors Sustainable Future Corporate Bond Fund. Peter Michaelis, the head of SRI at Aviva Investors, says that Purdie’s appointment will enhance their SRI credit offering.