Integrity Fund Managers is to roll out Elite Integrity European Income fund of funds, designed to fill a vacant position in the equity income sector.
Elite Fund Administration, part of the Way Group, will act as the ACD on the fund, which will be launched on 7 July with a 50/50 mix of continental European fund managers and UK-based funds. It will be initially seeded with around £10m in five funds selected by manager Colin Fogwill. These include: Resolution Argonaut European Income, led by Oliver Russ; Sonja Schemmann's Schroder European Equity Yield; BNP Paribas's Paris-based Parvest European Dividend fund and Luxembourg-domiciled ABN AMRO High Dividend. The portfolio will aim for a yield of around 4.8pc gross, and Fogwill said he...
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