EquitiesMay 2 2013

Spanish fund manager to launch 3 UK funds

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ByIona Bain


Speaking as the asset manager announced it was to bring three Spanish funds to the UK, aimed at institutional investors, José Louis Jimenez said the company intended to make retail share classes available, now that the FCA has given regulatory approval to launch the three products in the UK

Mr Jimenez said: “As an asset manager MGF does not invest in esoteric investments. We believe in straightforward value investing which has led, over many years, to a decent - if not excellent - track record.

“This is what one should expect from a good quality, traditional asset management business with clear objectives: delivering top-notch risk-adjusted results to our clients.”

The three funds are the Vini Catena, the Family Business Fund and Torrenova. The Terrenova aims to provide a higher-than inflation return by monitoring and mitigating risk.

Annual management charges on the funds at the moment - for the institutional market - are:

- Vini Catena: 1.66 per cent

- Family Business Fund: 1.73 per cent.

- Torrenova: 1.07 per cent.


Kim Barrett, director of Hertfordshire-based Barretts Financial Solutions, said: “If you have high net-worth clients, they are bound to be more pro-risk and open to giving lesser-known funds a punt. But most clients are likely to give tacit, begrudging approval when you get growth, and hammer you over losses, so advisers have to be certain these funds will be suitable for clients.”