Kames launches global equity income fund

Kames Capital is launching a global equity income fund. It will be managed by Kames’ head of overseas equities Piers Hillier together with senior European fund manager Mark Peden.

Hillier joined Kames in March from LV=Asset Management, leaving his position as chief investment officer. This is the first fund he will be managing for the group.

The launch follows the introduction of the global equity income strategy for institutional clients last January. The Dublin-registered fund will initially be available to investors in the UK, Channel Islands, Ireland, the Netherlands and Switzerland.

It will aim to provide investors with capital growth and income over the longer term, with the objective of outperforming the MSCI World Index on a rolling three year basis.

Kames is also focusing its attention on the retail distribution review strategy.

The firm will introduce a new ‘D’ share class and bring changes to its existing ‘A’ and ‘B’ share classes.

The ‘D’ share class aims to accommodate new IFA and ‘bundled’ investments post RDR implementation through investment platforms. It will consist of an initial 2.5% charge for equity investments (1.5% for bond funds) and an annual management fee of 1%.

The ‘A’ share class will remain open for legacy business, direct investors and some ‘bundled’ platform sales. The initial fee will drop to 2.5% for equity and 1.5% for bond funds, with a 1.5% annual management charge.

Kames Capital is a specialist investment manager with £50bn under management. It manages fixed income, equity, property and multi-asset products on behalf of individual and institutional investors in the UK, Europe and Asia.

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