Old Mutual Global Investors is set to launch a diversified equity income fund during the summer, the company has announced.
The Old Mutual Global Equity Income fund will be managed by Citywire AA-rated managers Ian Heslop, Amadeo Alentorn and Mike Servent and will be a sub-fund of the Dublin-domiciled Old Mutual Global Investors Series umbrella fund.
The company said the fund is designed to deliver a total return by targeting dividend yield and capital growth through a highly diversified global equity portfolio.
It will aim to provide monthly income targeted at 30% above its benchmark, the MSCI All Countries World index.
Commenting on the launch, head of global equities, Ian Heslop said: ‘Unlike some of our peers who remain heavily weighted towards certain sectors, we are able to seek out compelling investment opportunities wherever these exist globally, irrespective of sector, country or region.’
He added: ‘We are also flexible so that the prevailing conditions and outlook can be incorporated in our process to ensure we have the greatest scope to deliver sustained outperformance.’
Heslop’s team's investment process focuses on stock selection through analysis of fundamental company data, but taking account of the macro environment and investor sentiment.
This approach, the group said, aims to provide significant diversification from concentrated, style-biased global equity income funds.
In a recent update for the Old Mutual North American Equity fund, Heslop said US companies should start spending money now while the economy is in a relative sweet spot.