New fund investing in specialist lending launches

By Roger Baird on Tuesday 8 January 2019

Alternative Lending

The Waverton Investment Management fund will invest in five real asset classes outside equity and bond markets.

Waverton Investment Management has launched a new Real Assets Fund in a bid to boost returns from an anaemic global economy.

The West End-based asset manager said the fund will operate as a daily dealing UCITS vehicle, targeting returns of 4 per cent over inflation, as measured by the Consumer Prices Index “over the medium to longer term”.

The fund will invest in five real asset classes: property, infrastructure, asset finance, commodities and specialist lending. Its specialist lending class includes property, renewable and insurance lending.

The International Monetary Fund said in October it expects global growth in 2019 to come in at 3.7 per cent, the same as expected for last year and in 2017. This is a downgrade from the body’s 3.9 per cent forecast eight months previously, with trading confidence shaken by US-China trade tariffs, Brexit uncertainty and slowing consumer confidence in many parts of the world.

Waverton’s head of funds Charles Scott Plummer said: “We’ve had great interest in this launch. Within an investment environment characterised by accommodative monetary policy, moderate global growth and an uncertain inflationary outlook, an allocation to Real Assets appears an attractive proposition for investors.”

The fund will be managed by James Mee and Luke Hyde-Smith and domiciled in Ireland.

Waverton runs £5.4bn under management and employs over 100 staff, including around 25 portfolio managers.

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