Asset management firm launches ‘free spirit’ fund
MANCHESTER-based asset management specialist Sanford DeLand is launching a new fund, the CFP SDL Free Spirit Fund (Free Spirit Fund), which will be managed by Rosemary Banyard who joined the team in October.
The investment objective of the Free Spirit Fund is to seek to achieve real growth in capital and income over the long term of more than 2%. When fully invested, the portfolio will contain between 25 and 40 holdings.
The Free Spirit Fund will invest mainly in a portfolio of UK equities listed on the LSE or quoted on AIM/ISDX and may also invest in other transferable securities, money market instruments, units and/or Shares in other collective investment schemes, deposits, warrants, cash and near cash.
Investment director Banyard said: “This is a very exciting time for the team and we are looking forward to following on from the success of the CFP SDL UK Buffettology Fund.
The Free Spirit Fund investment focus will be to invest in businesses at valuations which offer the potential for long term appreciation in income and capital value.
“We will be looking for businesses that have a clear and sustainable competitive advantage, which are difficult to replicate, thereby erecting a barrier to new entrants and generating superior returns on operating assets.
“In addition, these companies are likely to possess sound finances and experienced management teams focused on the creation of long term value for shareholders.”
Keith Ashworth-Lord, managing director at SDL and Manager of the CFP SDL UK Buffettology Fund added: “I am delighted that we are launching the Free Spirit Fund under the guidance of a highly-experienced investment professional.
“Both Rosemary and I, over many years in the investment arena, have had the privilege to build very successful investment portfolios separately. Together, our financial and analytical skills can innovate and introduce new investment products such as the Free Spirit Fund, which will complement SDL’s highly successful UK Buffettology product already in the market.”
The initial launch period runs until today (January 10) with shares priced at 100 pence. There is no initial entry charge; on-going charges taken from the fund over the first year are estimated to be about 1.68%.
