STANDARD Life Investments has soft launched a UK Equity Income Unconstrained fund in a bid to build on the success of its popular UK Equity Unconstrained offering.
SLI said it has drawn up plans to close the latter, which began trading on February 22, within months. Following a similar tactic used for Wesley McCoy's £240m UK Equity Unconstrained, its launch had been kept under wraps because SLI had wanted to be able to demonstrate a performance track record before marketing the fund. It is run by Dominic Byrne, an Oxford-educated engineering graduate who joined SLI in 2000. The fund is thought to be run with a focused portfolio of 30 to 50 stocks, adopting a barbell approach, with large cap stocks helping generate a target income of 3.4pc...
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