GlobalSep 28 2017

Evenlode's Peters launches Global Income fund

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Evenlode's Peters launches Global Income fund

Ben Peters, co-manager of the £1.4bn Evenlode Income fund, is to launch a global equity income fund.

Mr Peters co-founded Evenlode Investments, which runs this fund in 2009, with Hugh Yarrow.

His Income fund which returned 94 per cent over the past five years, compared with 64 per cent for the average fund in the sector in the same time period.

The fund manager said he will use the same process in the Evenlode Global Income as he does in the UK fund.

The fund managers have a bias towards what they believe are “quality” companies, with Unilever being a long-standing investment in the Evenlode Income fund.

Mr Peters will be assisted in the running of the fund by Chris Elliot, a newcomer.

Mr Peters said: “Following strong feedback from our clients, we have developed the Evenlode Global Income fund as a natural evolution of the investment proposition offered by the Evenlode Income fund.

"The Global Income fund is an opportunity for our clients to access the Evenlode investment process applied to a broader range of investment opportunities. The portfolio will be different to but have the same flavour as our original fund.”

Commenting on the current opportunity in global equities, he said: “Although overall yields may not be particularly high in historic terms, investors can achieve a regular and growing income by investing selectively in companies with quality business models, attractive starting yields and good prospects for long-term dividend growth.”

Darius McDermott, managing director at Chelsea Financial Services, is keen on this fund.

He said: "Evenlode has a very well-defined process with the UK fund and there is no reason why they couldn't replicate this on a global fund. Ben Peters is a very good manager.”

david.thorpe@ft.com