Rathbones readies multi-asset income fund for Coombs

Rathbone Unit Trust Management is preparing to add another product to its multi-asset range for David Coombs to appeal to the at-retirement market, Investment Week understands.

The fund will be an income-focused product targeted at the Self Invested Personal Pension (SIPP) drawdown market and is currently in the concept stage, according to Mike Webb, CEO of Rathbones.

Rathbones has already launched two multi-asset products for Coombs this year, the Enhanced Growth fund in July and the Strategic Bond fund in October, co-managed with Bryn Jones.

“As soon as I took over at RUTM, I singled out David as someone I really wanted to capitalise on,” said Webb.

Webb started as CEO of Rathbones in April 2010 and told Investment Week he was happy with the firm’s infrastructure, sales team and product line, but would not rule out venturing into new sectors in the future.

“We like to stick to what we do well, and make natural extensions to the talent we have already got,” he said.

The company plans to unveil the multi-asset income fund in the first half of next year, though no final launch date has been set.

Coombs already manages a trio of multi-asset products including the Total Return fund.

The recently launched Strategic Bond fund has a unique structure whereby bond manager Jones invests half the portfolio directly in investment grade bonds, index linked bonds and gilts, while Coombs invests the remainder in alternative fixed income stocks through collective investment vehicles.