Old Mutual Global Investors has launched a range of multi-manager income funds for John Ventre, who was recently appointed head of multi-manager at the fund group.
The news follows the announcement of plans to ‘significantly’ scale up its product offer in the wake of its merger with Skandia Investment Group.
The four risk-targeted Generation Funds have income targets of between 4-6% and will be run by the same team responsible for the Skandia Spectrum fund range.
Ventre said the funds addressed a gap in the market and were designed to complement rather than replace the Spectrum range.
‘Our four new funds offer a variety of income solutions and address a real gap in the market, in particular those looking to enter in to income drawdown, but who are concerned about whether their pension will last the distance,’ he said.
‘With returns on cash and government bonds at, or near, historical lows and highly volatile equity markets, we believe that these products will form a complete outsourced solution to complement our Spectrum funds and prove to be highly popular with investors who are looking for income.’
The range will be marketed under the Skandia name until the business has been completely rebranded.