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Home > Investments > Multi-Manager Funds

By Bradley Gerrard | Published May 18, 2012

Mam Funds reshuffles IMA sector placement

Mam Funds has announced that four of its funds - including products run by Martin Gray and James Sullivan - will move IMA sectors.

Martin Gray and James Sullivan’s £790m CF Miton Special Situations and £229.6m CF Miton Strategic funds will move from the IMA Mixed Investment 40-85% shares sector to the IMA Flexible Investment sector.

Meanwhile, Nick Greenwood’s £19.1m CF Miton Global Growth and £14.2m CF Miton Select Assets will move from the IMA Flexible Investment sector to the IMA Global sector.

The changes will take effect on June 18 and follow the introduction of new IMA mixed asset sector definitions at the start of this year.

Graham Hooper, distribution director at Mam Funds, said the decision was made to make sure the funds were placed in the best sectors for their investment mandates.

“As a result, we are moving the CF Miton Special Situations and Strategic Portfolios to the Flexible Investment sector as this is the only one of the mixed asset sectors which allows us to pursue our unconstrained, macro-driven approach which has delivered such consistent results for our investors over the past 15 years.

“The new Mixed Investment sectors involve minimum equity floors, which would restrict the ability of our managers to move from one asset class to another. This has been key to their long term success.”

Since launch in December 2007, the Special Situations fund is the second best performing in the IMA Mixed Investment 40-85% shares sector with a return of 23.3 per cent compared with the sector average return of 1.1 per cent, according to Morningstar.

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