Ex-Sarasin fund manager Michael Jennings is set to make a return to retail fund management with the ...
Ex-Sarasin fund manager Michael Jennings is set to make a return to retail fund management with the launch of a Morley-branded global themed fund managed on 28 January.
The fund, which will be the third in the Norwich Union's range of Morley-branded funds following the launch last year of focused UK and European funds, will contain a portfolio of up to 70 stocks.
The Morley Global Theme fund, will seek to diversify by theme rather than the more traditional method of geopraphy, and will select stocks on the basis of whether they fall into one of four distinct themes.
The four themes identified by Jennings are: restructuring; misallocation of capital; disinflationary world and competitive advantage.
It is expected that the fund will have a two-week offer period and carry the same costs and level of intermediary commission as previous Morley offerings.
Jennings told investment Week: "In restructuring we will be looking for corporates which have a strong brand name and market share but are not being well managed. In many cases a change in management would allow such companies to flourish."
Two global vehicles
'Further plug advice gap'
Must appoint separate CEOs and boards
Advisers do come out well
Will report to Mark Till