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Assets under management in the Schroder ISF Global Multi-Asset Income have surpassed USD5 billion since the fund launched just over two years ago in April 2012.
Flows have come from Asia, Europe, Latin America and the Middle East.
Schroders says the milestone highlights the continued strong demand for income from clients globally, particularly given the sustained environment of moderate economic growth and low interest rates, coupled with the trend of an ageing population globally.
The fund, which aims to provide sustainable income by investing in high quality income generating securities across a range of asset classes, regions and sectors, is managed by Aymeric Forest and Iain Cunningham. The objective is to pay a distribution of five per cent per annum in monthly or quarterly instalments.
Forest says: “We have a diversified portfolio across a range of asset classes and regions, and we employ an active and flexible approach, which allows us to continue to deliver our yield objective of five per cent per annum. Equities remain our preferred asset class with continued focus on value and dividend paying stocks in a moderate growth environment. Within fixed income, further easing from the European Central Bank (ECB) has caused European bond yields to rally to record lows; we saw this as an opportunity to rebalance our investment grade exposure towards North America and Asia. With a more positive outlook for emerging markets after the fall-out from US tapering, we have increased exposure in these regions. Our global and unconstrained approach allows us to capture diverging regional growth and focus on sustainable income opportunities.”
Carlo Trabattoni, head of Pan-European intermediary distribution and global financial institutions group, says: “The demand for a reliable source of income driven by demographic factors such as an ageing population is a prominent and continual theme. In a post-crisis environment of low interest rates, quantitative easing and relatively low growth, clients are looking for an alternative from traditional income solutions. This is consistent with an increasing client demand for global multi-asset income solutions that widen the opportunity set.”
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