Lincoln Financial Group has launched a retail emerging markets fund that will be run along the same lines as its existing institutional funds.
The Lincoln Emerging Markets Trust will be managed by Delaware International Advisers, who also run Lincoln's Far East portfolio. Heading the operation at Delaware will be Bob Akester who will manage a team of eight emerging market investment researchers and analysts. The group's two institutional emerging markets funds have each grown by 37% over the past year.
The minimum investment in the fund is £500 or £25 a month. The initial charge will be 5.25% and the annual management charge 1.5%. Lincoln hopes shortly to be able to announce the fund's availability through fund supermarkets and discount houses.
Elsewhere, Friends Provident has launched the Stewardship Safeguard Optimiser ethical investment fund, which combines a portfolio of equities selected on ethical grounds via the Stewardship Growth fund managed by Isis Asset Management.
Both the equity and the cash components will be managed to deliver smoothed returns and, while this is not a guaranteed fund, there is a safeguard level of 80% of the highest-ever value. In extreme circumstances this protection may be reduced or even removed, however.
Meanwhile, Legal & General has launched a Managed Bond fund, to be run by Torben Cattley, which will invest in the group's Fixed Interest and High Income portfolios – typically in a 70/30 split. There will be no initial charges for investors under the age of 75 with charges of between 1.25% and 2.50% for investors aged 75 or more. There is also a 1% annual charge.
Insight Investment is to close its UK Dynamic fund just 16 months after its launch, following manager Neil Pegrum's departure. Reaching £60m just prior to Pegrum's leaving in May, the fund has since endured some £23m in redemptions