Bloxham launches global equity income fund
The wealth manager, which has £1bn under management, has commenced management of the recently launched Elite Bloxham Global Equity Income Fund and is targeting the UK independent financial adviser (IFA) community.
The fund will be distributed in the UK via Elite, the third party arm of Way Fund Managers, which is a subsidiary of financial services company The Way Group.
It is expected to deliver a 4.4 per cent initial income and carry steady long-term growth potential. It is also based on the Dublin domiciled Bloxham Global High Yield Fund.
A longer term ambition for the fund is to grow the income stream on average by 8 to 10 per cent a year, based on Bloxham’s screening model.
The screen vets selected stocks, which focus on core holdings designed to produce above average dividend yield and low debt to equity ratio, from around 250 to 300 global investments.
The fund includes 10 per cent exposure to the domestic Irish economy, along with a 35 per cent holding in Eurozone economies.
A spokesman for the Way Group said: "Under the guidance of lead fund manger Pramit Ghose, this is a fund which we believe will fill a badly needed gap in the global equity income sector (utilising a cautious management style) for those looking to diversify their global investment portfolio."