Norwich Union launches trio of onshore funds of funds mirroring manager Paul Kim's IMS Sicavs
Norwich Union has opened three onshore funds of funds run by multi-manager IMS. The Norwich Cautious, Growth and Balanced offerings launched on 24 April and sit within the Cautious, Active and Balanced Managed sectors respectively. The three funds are mirrors of the Lifetime IMS Growth, Income and Income & Growth offerings, which are structured as Luxembourg Sicavs and also managed by Paul Kim. Norwich Union has transferred its life and pension assets in the Sicavs to the onshore offerings, which accounts for £133m of assets. At launch, the Growth fund had £23.5m, Balanced £54m, and Cau...
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