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Product review: IFDS Brompton Global Income fund

As part of comeback following New Star’s collapse, Duffield launches range of funds with new management firm

By Geordie Clarke | Published Jul 31, 2012 | comments

Former New Star head John Duffield is back in the fund management business with a range from Brompton Asset Management.

Having moved on from the collapse of New Star three years ago and its eventual integration into Henderson, Duffield, who built the firm from the ground up in 2000 after his departure from Jupiter, has recently launched the IFDS Brompton Global Income fund.

As a sub-fund of the firm’s multi-manager umbrella OEIC, it will be managed by chief investment officer Gill Lakin. The firm plans to launch two other funds, the IFDS Brompton Global Growth fund and the IFDS Brompton Diversified fund, later this year.

Lakin’s fund aims to produce an income with the potential for capital growth by investing the UK and overseas markets. It is modelled on the firm’s existing private client investment strategy and will sit in the IMA Mixed Investment 20-60% Shares sector.

Minimum investment is £1,000 and minimum top-ups are £500. Initial charge is 5%, the AMC is 1.5% and the general administration charge is 0.25%.

www.bromptonam.com

MM View:

Taking the same approach as the firm’s private client investment strategy, this is a fund for log-term capital protection with a focus on generating income rather than capital growth.

With the high-net-worth investor in mind, the potential advantages for this fund come from its unconstrained investment model. Rather than focus on just the UK or an emerging market, it can invest globally and therefore cherry-pick regions that will benefit it the most.

Furthermore, by not limiting itself to one particular asset type, it can move entirely into cash, invest in infrastructure or private equity, UK and overseas bonds or even emerging market equities in order to ensure it is achieving its goals for clients. What remains to be seen if it it will be successful in doing exactly that.

geordie.clarke@ft.com

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