Roantree and Whittaker abandon TEF structure for Querns fund

The former New Star duo running boutique Querns Asset Managers have renamed their first offering from the business and changed its investment objective.

The Querns Income First fund, formerly managed by Stephen Whittaker (pictured) and Phil Roantree, is now called the Querns Monthly Income fund and is managed solely by Whittaker as an equity fund. The fund was originally launched in June 2010 as a tax elected fund (TEF) invested partly in equities and partly in bonds. This allowed it to pay dividend income and other income, such as from corporate bonds, separately. This ensured pension schemes and others who were entitled to tax relief could receive the income gross. However, the managers said fund supermarkets and wrap platforms have...