The investment manager, Cazenove Capital, is to launch a new multi-asset, multi-manager fund in a bid to offer investors a combination of income and capital appreciation, subject to approval from the UK regulator, the Financial Services Authority.
The fund, entitled the Cazenove Diversity Income Fund, aims to deliver the rise in the consumer price index over the medium term with an average income of 4 per cent per annum.
The fund plans to open to investment in quarter four this year and will be managed by Marcus Brookes and Rob Thorpe.
“The Cazenove Diversity Income Fund will look to build upon this success using the same investment philosophy and process behind the Cazenove Multi-Manager Diversity Fund … but it will be differentiated by having an income bias. We believe that there is substantial demand for a multi-asset fund of this type that focuses on preserving capital whilst aiming to deliver an income,” said Brookes.
Cazenove Capital focuses on UK and European equities, fixed interest and multi-manager. The investment funds business currently manages £4.4 billion, as at 31 August 2010.