Rathbones readies third multi-asset product for Coombs

Rathbones is preparing to add a third fund to its multi-asset range, to be run by investment director David Coombs.

The fund will be a more aggressive, higher risk offering, in comparison to the existing two multi-asset funds.

Coombs already manages £30m in the Multi Asset Total Return portfolio and £48m in the Multi Asset Strategic Growth fund, which both sit in the Unclassified sector.

Multi Asset Total Return delivered 6.9% over the year to 16 June, according to Financial Express, while his Strategic Growth fund returned 9.1% over the same period.

Strategic Growth has 54% in international equities and a return target equal to UK CPI +5%. Its volatility rate is equal to two-thirds that of global equities, measured on the MSCI index. His preferred holdings at present include Schroder UK Growth and Baring German Growth.

Multi Asset Total Return, a lower risk portfolio, has 30% in equities, 12% in corporate bonds, 3% in property, and no exposure to private equity or commodities. It targets a return equal to 2% above sterling over the long term, with a volatility rate equal to one-third or less of the MSCI World Equity index.