Investments  

Albion markets OLIM fund to advisers for first time

Albion markets OLIM fund to advisers for first time

Albion Capital, which bought the OLIM fund management business from Close Brothers in 2016, has started to market the UK equity income fund to advisers.

The SVM Albion OLIM UK Equity Income fund was opened to retail investors in 2017, a year after it it was taken over by Albion.

The fund, which was previously named Close OLIM UK Equity Income, had only been available for OLIM’s high net-worth private clients prior to the rebrand.

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According to fund manager Andrew Impey Albion has now funded a marketing push to sell the fund through advisers.

The fund has assets of £18.3m, while the wider UK equity income strategy at OLIM has assets under management of £430m.

Mr Impey said the fund will use the value style of investing and will focus on the income generating potential of the companies invested in.

He said it will not invest in any company that does not pay a dividend. There are on average thirty stocks in the portfolio, which, Mr Impey said, was fewer than most of its peers.

Among the shares he has been buying of late were Lloyds Banking Group.

He said as an investor he wants to think longer term, and with that in mind, the present Brexit uncertainty was not central to his investment thoughts.

He said: "We want to own companies for many many years, and many of the problems that are putting people off investing in the UK right now, whether that be Brexit or anything else, will be resolved years from the now, and the share prices of the companies will reflect that."

Darius McDermott, managing director at Chelsea Financial Services, said he was not familiar with OLIM, but he said the UK equity income sector was very competitive with a number of fund managers with long-tern track records therefore it was a difficult market to break into.

david.thorpe@ft.com