Aug 14 2014

RLAM rebrands European fund

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Royal London Asset Management is repositioning its European equity offering with a “growth focus” because of improvements in the European economy, Neil Wilkinson has said.

Announcing that the RLAM European Income Fund had been rebranded as the European Opportunities Fund, senior fund manager Mr Wilkinson said: “Investors are seeing signs of improvement in the Eurozone economy, incentivised by a pro-business and pro-growth agenda.”

The £233m fund, which invests in a concentrated portfolio of shares of between 30 and 40 European companies, excluding those in the UK, is seeking niche products or services which could grow faster than the broader economy.

The fund, which became available on 1 July, requires a minimum £1000 investment and has an initial charge of four per cent and a yearly charge of 1.4 per cent, runs alongside the £525m European Growth Fund.

ADVISER VIEW

Gary Matthews, chartered financial planner for Shropshire-based Matrix Capital, said: “If you look at the performance of the fund against the sector I think it has lagged over a good number of years, so perhaps they have taken a decision to rectify that position.”