Hasley and Way Group join forces for fund of ETFs

Hasley Investment Management and Way Group are set to launch a fund of ETFs in association with Cass Business School of London.

The Global Momentum fund, to be launched on Monday, will compare indices with their moving averages on a monthly basis to determine whether investors should stay in a rising market or move into cash to protect against capital losses.

The fund will invest in 24 equally-weighted developed world ETFs, or cash should a falling market be predicted.

It aims to beat the MSCI World Index but with a reduced volatility.

Professors Andrew Clare and Steve Thomas, of Cass, say the strategy has achieved an annual return of 6.6% in back-testing.

Way's Eddie O'Gorman states the fund will represent "the first step in a series of launches likely to alter the UK investment landscape".