Baring Asset Management has launched a Multi Asset Income fund to target new investors following recent changes to the pensions landscape.
The fund, which became available on July 29, will be run by Sonja Laud, head of multi-asset income.
The new fund can have a maximum investment in equities of 65 per cent of the portfolio, with 80 per cent in fixed income, up to 30 per cent allocated to property, 25 per cent in cash and a maximum of 30 per cent in alternatives. It will be included in the IA Mixed Investment 20%-60% Shares sector.
It will target an annual yield of 5 per cent with monthly distribution.
Ms Laud said: “The fund will be managed with the aim of preserving capital through our strong multi-asset skill set. Unlike many income funds, a unique feature of this fund will be monthly income payments with a high income target.”
Barings lost three key members of its multi-asset team last year. Percival Stanion, Andrew Cole and Shaniel Ramjee went on to head up Pictet Asset Management’s push into the space.
Within weeks of their resignation the multi-asset fund had lost almost 35 per cent of its assets under management, according to data from FE Analytics.
