Downing adds Syz AM pair for European equity income fund launch

New duo to run Unconstrained Income fund

Downing Fund Managers has hired former Syz Asset Management European equities head Mike Clements and portfolio manager Pras Jeyanandhan to run a newly launched European equity income fund.

Clements and Jeyanandhan will run the VT Downing European Unconstrained Income fund, which will invest in between 30 and 40 stocks from across the market cap spectrum, and focus on contrarian investment opportunities and 'off the radar' ideas. The fund will target a yield of at least the market rate, Downing said, with distributions made quarterly. The offering will charge an annual management fee of 0.75% per annum for its 'A' share class. Downing to launch renewables and infrastructure trust Partner and head of Downing Fund Managers Judith MacKenzie praised the hires as "a real t...