The Premier Global Strategic Assets, Global Alpha Growth, Strategic High Income Bond and UK Strategic Growth funds will all have new investment objectives, while the Premier Environmental Power and Water Fund will change its name to take out the environmental reference and will be known as the Premier Global Power and Water Fund. Its objective will remain as it is now.
Premier Global Strategic Assets Fund (£53m assets under management)
This will be known as the Premier Global Strategic Growth Fund and its mandate will be to achieve long-term capital growth and not, as it current does, generate an income as a primary objective. As well as equities, the manager – Mike Jennings – will have the flexibility to invest in money market instruments, collectives as well as fixed income securities. The fund will move from the IMA’s Balanced Managed sector to the Global Equity sector.
Premier Global Alpha Growth Fund (£10m AUM)
Run by Jacob Robbins, his current objective is to achieve a total return above inflation but with a lower risk profile than the global equity index. This will change to a mandate of generating capital growth from a focussed portfolio of global equities.
Premier Strategic High Income Bond Fund (£15m AUM)
Manager Paul Smith is constrained by having to invest at least 50% of the fund in investment grade bonds. Given the downgrades to many companies’ and countries’ credit ratings this restriction will be removed.
Premier UK Strategic Growth Fund (£54m AUM)
The investment policy as it stands now is to focus on themes which manager Simon King believes will generate high growth. The proposal is to remove the restriction to identify such themes. Also, the maximum amount that can be held in cash is currently 10% – this too is to be removed.