Premier's Jennings to run concentrated global portfolio

Premier has revealed its new global equity fund, headed by highly-regarded fund manager Michael Jennings, will be predominantly invested in large-cap stocks.

The offering, called the Premier Global Dynamic Strategic Risk Controlled (DSR) fund, has the flexibility to hold between 0% and 100% in equities, with Jennings primarily holding large-cap companies to enable him to liquidate part, or all, of the portfolio if necessary.

The long-only portfolio will aim to deliver equity-like returns from a concentrated basket of global equities, investing across a variety of currencies before hedging the portfolio back to sterling.

Premier’s sales and marketing director, Simon Weldon, said: ‘The aim of the fund is to achieve equity like returns with less than average volatility.’

Jennings joined Premier in March as senior investment manager in charge of global equities. Prior to moving to the Guildford-based firm he was head of global equities at Morley Asset Management, and he also spent 12 years at Sarasin as director and senior fund manager.

Subject to FSA approval, the fund will launch on 1 May.