Multi-manager Maia Capital has dumped exposure to UK equity income funds in its £34m Cautious portfolio as it looks to "unusual" asset areas.
The Resolution Asset Management boutique – founded by Chris Ralph, Simon Mungall and Jason Collins – says it wants to push the boundaries into less well known asset classes. As a sign of their intent, the Maia team has invested in the €230m MPC Global Convertibles fund, run by former JPMorgan managers Miles Geldard and Lee Manzi. The Luxemburg-domiciled UCITS III Sicav invests in a broad range of global convertible bonds. Ralph says UK equity income funds serve investors well, but are “something of a comfort blanket in multi-manager”. “The MPC fund offers an attractive mix between equit...
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