PRESS RELEASE
The WAY Group | Press Release: 24th August 2010 | For immediate distribution
WAY Fund Manager's Absolute Return Portfolio Fund harnesses sector specialist Roderick Collins' expertise to deliver smoothed portfolio returns.
Absolute return specialist Collins to helm latest WAY fund
Aimed at investors looking for stable, consistent returns
Fund designed to act as a performance stabiliser in equity-centric portfolios
Minimal correlation with other asset classes
Recurring positive annual growth target
Qualifying UK regulated securities fund
Underpinned by low fee approach: 0.5% manager's charge and performance fee only kicks in if fund achieves min 5% growth
Tiered performance fee structure
The WAY Absolute Return Portfolio Fund(see attached launch PDF below for full breakdown) is one of three new investment funds to utilise a new tiered performance fee structure, launched by WAY Fund Managers Limited this month.
Designed for investors looking for true and steady growth, WAY Absolute Return Portfolio Fund follows the recently launched WAY Freestyle Growth Portfolio Fund and will be followed later this month by the WAY Asian Spice Portfolio Fund.
Manager Roderick Collins, founding member of Hasley Investment Management LLP, will head up the fund, which will invest in quoted hedge funds and investment trusts of hedge funds deploying a wide range of strategies as well as in some distributor status hedge funds and the growing range of absolute return funds available under UCITS III.
"The central concept of the fund is to offer a diversified portfolio of absolute return vehicles, which are not dependent on the market directional bets, which are the hallmark of long only equities", said Collins. "It is important not to rely on a single manager in the absolute return space but to employ a range of carefully selected managers, many of which will have non-correlated performance, in order to minimise portfolio volatility."
The charging structure for the WAY Absolute Return Portfolio Fund - designed in part to reflect investor unease at fund management levies charged regardless of whether the fund has performed well or not - carries a tiered performance fee commencing at 10% for returns between 5% and 15% p.a. A fee of 20% will be taken for growth over 15% p.a.
A base annual management charge of 0.5% applies to the institutional class where there is no trail commission payable to financial advisers. The retail class however, carries an additional charge of 0.5% per annum which is paid out to servicing independent financial advisers as trail commission.
In common with other highly successful funds such as the stellar-performing WAY Charteris Gold Portfolio Fund (which was the Number One performing unit trust or OEIC in the UK last quarter - Source: Financial Express, July 2010), the WAY Absolute Return Portfolio Fund is one of the growing stable of funds managed by a specialist external manager on behalf of WAY Fund Managers Limited.
"The launch of the WAY Absolute Return Portfolio Fund continues our strategy of complementing our global portfolio style funds with a range of contemporary thematic funds which we believe to be relevant for the decade ahead,"" said WAY Group chairman, Paul Wilcox.
"We have also recently launched Gold and Green Portfolio funds, which are performing exceptionally well, and the Absolute Return Portfolio Fund provides an equally compelling proposition for investors seeking steady positive 'deposit beating' returns," added Wilcox.
Fig (1) - Charges & Commission for WAY Absolute Return Fund
1. Initial: up to 5.25% (up to 3% commission)
2. Annual: 0.5 % - Institutional Share Class
(a) 1.0% - Retail Share Class (0.5% trail commission)
3. Performance Fee Structure:
(a) 0 - 5% growth: nil%
(b) 5 - 15%: 10%
(c) 15% +: 20%
Note: All fees apply on the margin. Thus a 7% positive return would incur a performance fee charge of 10% from the time it hit minimum performance fee growth, i.e.: Total performance Fee charge = 0.2%.
– Ends –
Associated Links:
Launch version - WAY Absolute Return Fund: Fund Factsheet
Fund product page: WAY Absolute Return Fund
Details of WAY Client-centred: Performance Fees
WAY Absolute Return Fund: Plan Documents
Learn more about WAY's: Specialist Funds
General & Press Enquiries:
Paul Wilcox, Chairman, The WAY Group. Tel: 01202 890895 / 07970 891762
Roderick Collins, Fund Manager, Hasley Investment Management. Tel: 01264 773155
Please Note:
This document is not intended to constitute an offer or agreement to buy or sell investments and does not constitute a personal recommendation. The investments and services referred to in this document may not be suitable for every investor and if in doubt independent financial advice should be sought. No liability is accepted whatsoever for any loss howsoever arising from any information in this document subject to the rules of the Financial Services Authority or the Financial Services and Markets Act 2000. Share prices, values and income can go down as well as up and investors may get back less than their initial investment.
The WAY Group | Press Release: 24th August 2010 | For immediate distribution