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Whitehead to steer Sarasin’s two global equity launches

The boutique asset management firm launched the Sarasin Global Dividend fund, along with a separate sterling-hedged version of the fund, in December 2013.

The group already had an equity income product, the Sarasin International Equity Income fund, but has renamed that to the Sarasin Global Higher Dividend fund. Mark Whitehead will manage both the Global Dividend and Global Higher Dividend funds, with Darryl Lucas as his deputy on both strategies.

While the Global Higher Dividend fund focuses mainly on generating a high yield, sometimes at the expense of the overall total return, the Global Dividend fund will be run in a more total return-focused way with a lower yield.

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The Global Dividend fund is going to target a yield of 15 per cent more than its benchmark, the MSCI ACWI index, which would give it a yield of 2.8 per cent at current levels, compared with the 4.7 per cent yield on Global Higher Dividend, which is the highest in the IMA Global Equity Income sector.

The new fund, and its sterling-hedged equivalent, will have a platform share class annual management charge of 0.75 per cent and a minimum investment of £1,000.