• Move underlines the consistency of the investment methodology behind the firm’s two cautious funds
• Proposed name change reinforces differences in risk approach
T. Bailey has promoted assistant manager Elliot Farley to head up the T. Bailey Cautious Managed Fund, which is to be renamed the T. Bailey Dynamic Cautious Managed Fund from 1 October 2010, subject to unit holder approval.
Last month Farley was named lead manager of the firm’s newly launched T. Bailey Defensive Cautious Managed Fund, which was launched on 20th July and now has £10m in funds under management.
Farley has been with T. Bailey since 2000, when he joined as an analyst. He has been Assistant Fund Manager of the T. Bailey Growth Fund, the T. Bailey Equity Income Fund and the T. Bailey Cautious Managed Fund since January 2009.
T. Bailey Chief Investment Officer Jason Britton said: “Over the past year Elliot has been instrumental in refining and improving the investment process on which our established and new cautious funds are built – using sophisticated, cutting-edge multi-asset analysis and modelling.
“The benefits have shown in recent performance and, whilst these funds are different, Elliot’s promotion to lead manager of both highlights the consistency in investment philosophy behind them. Multi-asset investing has become a popular strategy for advisers and their clients and these funds demonstrate our commitment to this area.”
The T. Bailey Defensive Cautious Managed Fund aims to outperform the IMA Cautious Managed sector average over the long term and with less volatility. Its typical exposure to equities is around 25%. The T. Bailey Dynamic Cautious Managed Fund aims to outperform the average fund in the IMA Cautious Managed sector average but has the freedom to accept slightly greater volatility and risk in the quest for reward. Its typical exposure to equities is expected to be around 50%.
The FSA has already approved the name change of the longer-established fund and unitholders will be sent a circular shortly asking them to approve the change.
Farley said: “The name change should help advisers and underlines the key distinctions between these two multi-asset funds. The IMA Cautious Managed Sector includes such a broad range of funds that it can be difficult to identify those that are best suited for clients. ‘Cautious’ is no longer sufficient shorthand for defining a fund’s investment philosophy. Our ‘Defensive Cautious’ and ‘Dynamic Cautious’ tags give investors a better idea of where each fund stands on the caution spectrum.”
Submitted by: Michelle Lawrence
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