Kames Capital, the UK asset management arm of AEGON, is launching a Global Equity Income fund, managed by head of overseas equities Piers Hillier and senior European fund manager Mark Peden.

Initially, the Dublin-registered fund will be available to investors in the UK, the Channel Islands, Ireland, the Netherlands and Switzerland. It will aim to outperform the MSCI World Index on a rolling three-year basis.

Speaking at an investor conference in London, where the fund launch was announced, chief executive Andrew Fleming also outlined the firm's Retail Distribution Review strategy, which will see the introduction of a new D share class and changes to its existing A and B share classes.

The D share class aims to accommodate new IFA investment post-RDR, as well as “bundled” investments via investment platforms. It will consist of an initial 2.5 per cent charge for equity investments (1.5 per cent for bond funds) and an annual management charge of 1 per cent. There will be a minimum investment limit of £250,000 (about $405,900).

Earlier in September, Marcus Chandler was hired as a senior portfolio manager to boost the firm's US and overseas equities capabilities.

At end-June, Kames had £50 billion (about $80.5 billion) in assets under management.