Brooks launches two new funds

Brooks Macdonald Funds has launched two new funds to expand its retail offerings to six.

The company, the fund management business of wealth management business Brooks Macdonald Group, said the Global Equity Income fund will be managed by Toby Thompson, who ran the Henderson Global Equity Income fund between 2002 and 2009 and the Newton Higher Income fund between 1997 and 2001.

The Defensive Capital and Income fund will be an offshoot of the existing £100m Defensive Capital fund and, like that fund, will be managed by Jon Gumpel, a founder of Brooks Macdonald, and Robin Eggar.

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Brooks Macdonald said the new fund would follow a similar defensive investment strategy to the Defensive Capital fund but would aim to achieve an attractive income as well.

The Defensive Capital fund, formerly known as the Structured Growth fund, was launched in December 2006 and is second quartile in the Mixed Investment 20-60% Shares sector over five years with a return of 17.9 per cent, according to FE Analytics.

Simon Wombwell, chief executive of Brooks Macdonald Funds, said: “As a fund management business we are committed to launching new and attractive fund offerings into the marketplace and this extension of our funds proposition widens our offering to a larger investor and adviser base.”

Like the other Brooks Macdonald retail funds, the two new offerings will have Investment Fund Services Limited (IFSL) as their authorised corporate director.