The World Dividend Growers fund is aimed at providing dividend growth by investing in a variety of global companies, with Capital Group giving the fund initial seed money of £25m. The fund will be managed by Theodore Samuels, Todd James and Gerald Du Manoir, with a regional emphasis on Europe and the US.
Initial details are as follows:
- AMC 0.75%
- total expense ratio 0.99%
- operating currency is the euro
- domiciled in Luxembourg
The largest proportion of the fund’s assets are allocated in the financial sector at 20 per cent, followed by companies in the consumer discretionary sector at 14.6 per cent and healthcare at 13.4 per cent. Its single largest holding is Roche, a global pharmaceutical and healthcare service company, at 4.9 per cent.
Gavin Haynes, managing director of Bristol-based Whitechurch Securities, said: “There is no doubt that income has become a popular area but the emphasis is now shifting away from the UK, as it is clear that there are plenty of global companies that can consistently grow the dividends over a long period of time.”