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Paul Wilcox, chairman, Way Group

Way Group launches three funds

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Three investment funds are being launched by the Way Group this month.

The Freestyle Growth Fund is being launched with a permanent zero fund manager’s charge, along with a zero performance fee until the fund achieves at least ten per cent each year.

The Way Absolute Return Fund and Way Asian Spice Fund are also being launched this month.

Freestyle is to be managed by the Way in-house investment team, led by Trevor Chanter.

The charging structure for the Freestyle Growth Fund carries a tiered performance fee commencing at ten per cent of returns between ten per cent and 20 per cent. This means that a 20 per cent gross performance will incur an effective fund manager’s charge upon the fund of only one per cent per annum. 

A fee of 15 per cent will be taken on the next ten per cent tier of performance, with a 25 per cent fee applicable for returns above 30 per cent per annum. These figures apply to the institutional class where there is no trail commission payable to financial advisers.

The retail class carries an additional charge of 0.5 per cent per annum which is paid out to servicing independent financial advisers as trail commission.

“Designed for more sophisticated investors with a degree of appetite for risk, the fund is dedicated to identifying and backing contemporary, diverse performance across all asset classes and geographical sectors in an unstructured manner,” says Way Investment Managers chairman Paul Wilcox.

“The model we ran prior to launch had exposure to gold mining companies, currency baskets, listed hedge and absolute return funds, agriculture and forestry funds, along with a life settlement fund to underpin more volatile aspects of the asset spread. Performance has been very encouraging, and it is likely that we will continue with this eclectic spread of assets within the portfolio going forward, as they have been proved to deliver robust performance in volatile market conditions.”

The Absolute Return Fund and Asian Spice Fund will be managed by specialist external managers on behalf of Way Group. They will offer a similar charging structure to the Freestyle Growth Fund.

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