DWS Investments is to launch an income fund of funds at the end of the second quarter of this y...
DWS Investments is to launch an income fund of funds at the end of the second quarter of this year.
The decision comes as a result of a desire for such a product from the group's strategic partners, said Andy Clark, head of UK retail distribution.
'We sell a lot of the balanced managed fund via our distribution partners, and there is a move from them towards a cautious managed distribution fund,' he said.
The new fund will have an income bias and be put in the cautious managed sector.
It will be run by Jonathan Arthur, manager of the Managed Portfolio, its balanced managed fund of funds. The income fund will also be a fettered product.
The £254.6m Managed Portfolio aims to achieve capital growth by investing in DWS and Deutsche equity and bond funds. It has returned -25.4% over the 12 months to 3 March, compared to a Balanced Managed sector average of -24% offer to bid.
Two global vehicles
'Further plug advice gap'
Must appoint separate CEOs and boards
Advisers do come out well
Will report to Mark Till