Aberdeen overhauls Duce and Kearney's Multi Asset Growth

Aberdeen is renaming its £8m MM Multi Asset Growth fund and broadening its remit to give it more of a total return focus.

The fund will become the Aberdeen MM Diversified Alpha fund next month, and will see its parameters move to take advantage of the wider range of UCITS III funds in the market. From launch the fund had been able to invest 50% in directional long-only funds, and 50% in total return vehicles, but it can now hold up to 100% in total return funds. It can also have 5%-10% in tactical directional positions. Aidan Kearney and Graham Duce will continue to manage the vehicle, which will also see its annual management charge cut from 1.5% to 1.25%. Kearney says the changes to the portfolio r...