T. Bailey has become the first fund of funds to back Tom Moore since he took the reins of the Standard Life UK Equity Income Unconstrained fund at the beginning of 2009.
The fund of funds boutique has bought the fund within its flagship global equity portfolio, the T. Bailey Growth Fund. Co-manager Elliot Farley said:
"It's a move back into equity income for us after a considerable time out of the sector. We've had a sustained growth phase in the markets and as the growth cycle matures we believe performance will be increasingly driven by income."
He said the £35m fund is well placed to deliver returns. He added: "It leverages off Standard Life's strong UK equity team. Their matrix model has historically proven very successful and this fund has a pragmatic income overlay to it. The process seems to generate less run of the mill ideas, flagging up unusual and interesting opportunities across the market cap scale. It's an attractive alternative to some of the bigger funds. "Though fairly new to this fund Tom has a strong track record in the institutional arena. The combination of a good manager and good process is compelling."
Submitted by: Michelle Lawrence
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