VAM Funds, which is targeting non-UK financial advisers following a partnership with Close Brothers Asset Management, has launched a ‘cautious’ fund and plans a growth fund by the year-end for its VAM Discretionary Funds range.
The launch of the VAM Close Brothers Cautious Fund is in response to “growing demand from non-UK-based advisers for discretionary fund management services”.
The fund is a Luxembourg-domiciled Ucits and is the second product to be launched under the VAM Discretionary Funds range following a balanced fund in July. The VAM Discretionary Funds range will be completed by the VAM Close Brothers Growth Fund, later this year.
Nigel Watson, VAM Funds sales director, says: “The response from advisers to the Balanced Fund launch has been extremely positive, with the high levels of fund flows over the traditionally quiet summer period taking us pleasantly by surprise.”
VAM has $612 million (€538 million) of funds under management and its business strategy is to partner with smaller, niche investment houses and provide services to investors who would not normally be able to access the managers it partners with.
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