Capita Financial Group has been appointed as authorised corporate director and administrator to the CF Canlife Total Return Fund, one of the first feeder funds to be launched in the UK.
The fund is a feeder to the Dublin UCITS Putnam Total Return Fund managed by Putnam Investments, and forms a key part of Canada Life Investments’ recently announced strategy to target the UK retail investment marketplace.
The UCITS IV Directive (2010) introduced a number of key changes to UCITS funds including the ability to set up master/feeder structures, providing asset managers with easier access to international investor distribution channels. Master/feeder funds also allow smaller pools of assets to be aggregated, reducing servicing costs and helping improve returns. Master/feeder structures are expected to be key in reducing the full duplication of UCITS structures across European markets, enhancing distribution channels by using a feeder to an existing successful UCITS structure rather than cross border distribution.
Capita Financial Group chief executive Chris Addenbrooke (pictured) says: “We are very pleased to support Canada Life in their UK retail market strategy and to be one of the very first to launch a master/feeder structure in the UK. We see the introduction of master/feeder structures as a very real opportunity for asset managers to benefit from an efficient distribution capability in the UK marketplace and, conversely, for UK authorised funds to gain international distribution.”
