The latest in funds and investments news from across Europe and the UK.

Morgan Stanley Investment Management
Following strong demand for ESG integrated funds, Morgan Stanley Investment Management (MSIM) has launched the Morgan Stanley Funds (UK) Global Sustain Fund to UK investors. UK entry follows last year’s successful launch of the fund in Luxembourg. The firm said that in the first 18 months, the fund has attracted $700 million of investment and produced an annualised return, net of fees, of 16 per cent against the MSCI World Index of 3.92 per cent.

Richard Lockwood, MSIM’s head of distribution for Northern Europe, said: “Investor interest in ESG integrated products continues to accelerate. Global Sustain is strong on engagement, light on carbon and built on the international equity team’s expertise in quality investing."

Amran Capital
Amran Capital, the independent wealth management and advisory firm, has launched a new high-yield fixed income fund. Called, the Princes Park Capital Fund, it will be managed by investment veteran George Gedeon.

As acting CIO, Gedeon will identify “misunderstood but deleveraging sectors with strong governmental support”, the firm said; along with sectors where momentum is picking up such as oil and gas. It said its approach is to find solid companies temporarily negatively affected by macro drivers such as state action but whose fundamentals remain strong. It will also target emerging markets which are under-covered and under-researched but benefit from strong governmental support.

The fund aims to generate high single-digit annual returns, with a focus on capital preservation and a portfolio split across America (30 per cent), Europe (30 per cent), Asia (20 per cent) and Central and Eastern Europe, the Middle East and Africa (10 per cent). The fund will carry a 1.5 per cent management fee and a 20 per cent performance fee.

Gedeon started his career in investment banking in 1989 at Merrill Lynch in New York. After 12 years in investment banking, mostly at Goldman Sachs, he moved into asset management in 2002, firstly as portfolio manager at GLG Partners, before launching his own funds.