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Vontobel scraps multi-manager chief's income fund

Vontobel scraps multi-manager chief's income fund

(Updated) Vontobel has removed from the register a multi-manager income fund the firm was looking to launch over a year ago, Citywire Switzerland can reveal.

Stephan Arnold, who is portfolio manager and head of multi-manager solutions at Vontobel, said the firm decided not to launch the strategy at the end of the subsription period for the Swiss-domiciled Vontobel Fund (CH) – Multi Manager Income fund.

Back in October 2016, the asset manager said the strategy was going to have an annual payout of 2% after earnings as a result of the best manager selection based on a best-in-class approach.

Arnold said the fund would have operated with a different risk profile to the Multi Asset Income fund, which was launched for a wider audience at the end of 2016.

The new Multi Manager Income fund was meant to be in CHF and defensive with volatility around 3 to 4% and targeting Swiss investors.

Meanwhile, the Multi Asset Income Fund is a euro strategy with a more aggressive risk profile. This fund was launched in December 2016 and is managed by Dominik Zörner.

The Multi Asset Income fund invests in fixed income and equities via bonds, notes and similar fixed interest and floating-rate securities issued by public or private borrowers, equities and participation certificates.

 This article was updated on October 11 to reflect the fact that the fund was not formally launched.


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