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Funds round up: Invesco, Deutsche Bank and more
06/10/2017 , News Team

Invesco PowerShares has launched its first preferred shares ETF in Europe. The PowerShares Preferred Shares UCITS ETF will trade on the London Stock Exchange and invest in US preferred shares. The ETF is available in US dollars with an ongoing charge of 0.5 percent per annum. It will be managed by senior portfolio manager Jeff Kernagis. Nicolas Samaran, head of innovative product development at Invesco PowerShares, said: "With interest rates and bond yields at all-time lows, investors have really struggled to generate meaningful income. Preferred shares provide yields comparable to high yield bonds, but from securities issued typically by more well-known companies." This is the firm's first launch since the acquisition of Source ETF in April. 

Baillie Gifford's head of the Japanese Equities team, Sarah Whitley, Stephen Rodger and Ken Barker, both partners within the firm’s fixed income area, will step down from the partnership on 30 April 2018. Sarah Whitley is the longest standing partner within Baillie Gifford, having spent 37 years with the firm, and has managed the Baillie Gifford Japan Trust since 2001. Following her retirement Matthew Brett will take over as lead portfolio manager, supported by Praveen Kumar as deputy portfolio manager. Matthew Brett will also continue to manage the Baillie Gifford Japanese Fund.  Donald Farquharson will assume Sarah’s responsibilities as head of the Japanese team and continue to manage the Japan Growth strategy. Stephen Rodger will retire after over 17 years with the firm. Gregory Turnbull Schwartz will assume lead responsibility for all investment grade portfolios and Robert Baltzer will continue as head of High Yield.  Torcail Stewart remains manager on the Baillie Gifford Corporate Bond Fund, which he has co-managed alongside Stephen since 2010. Ken Barker will step down after spending 16 years with Baillie Gifford. He joined as a fixed income investment manager before moving to the clients department in 2007 to focus on fixed income client service. 

Deutsche Bank’s global investment solutions (GIS) group has teamed up with Man Group’s quantitative arm to launch a UCITS. The DB Platinum IV Man AHL Equity Alpha fund will employ Man AHL’s quantitative equity trading strategy, AHL Equity Alpha, which combines single stock market neutral factors with sector and factor timing techniques in order to identify trading opportunities across 3,000 stocks in the US, Europe and Asia including Japan. Head of global investment solutions at Deutsche Bank, Tarun Nagpal said: "Demand for Alternative UCITS products continues to grow and has fast become the vehicle of choice across Europe for investors wishing to gain exposure to liquid alternatives." The fund is currently registered for sale in, Spain, France, the UK, Sweden, Germany, Denmark and Italy.

Legal & General Investment Management (LGIM) has named Stephen Message as manager of the £268 million L&G UK Equity Income Fund. Mr Message will oversee £1 billion in assets across LGIM’s UK Income fund range. He joined LGIM in August 2017 from Old Mutual Global Investors (OMGI), where he managed the Old Mutual UK Equity Income Fund. Prior to his role at OMGI, he was an equity fund manager at Bessemer Trust. Mr Message commented: “In the current low interest rate environment, the search for a meaningful and growing level of income poses a significant challenge for investors. However, I consider there to be a number of attractive yield opportunities across the UK equity market to meet these demands and am looking forward to managing the L&G UK Equity Income fund”.

WisdomTree has constructed a diversified global model portfolio focusing on equities. This provides a practical overview of how investors might use its funds and how they can look at the different strategies together in one holistic portfolio. The model portfolio is designed to represent a core allocation to broad global equities with a tilt towards higher yielding companies and a strategic tilt towards small cap stocks. The overall aim has been to target the weights of the MSCI ACWI benchmark (MSCI All Country World Index) which is representative of investors’ preference for diversified equities. The core portfolio holdings of broad income oriented ETFs are designed to generate above average yield and deliver better longer term risk adjusted returns. The strategic allocation to small cap equities is predicated on the view that such stocks, if selected according to a value approach, can deliver enhanced returns.

 

 
 
 

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