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7IM to rename and drop charges on fund

7IM to rename and drop charges on fund

The 7IM is set to rename its 7IM Unconstrained fund to the 7IM Real Return fund and lower its charges.

The annual management charge (AMC) on the fund will drop from 1% to 0.6% as of 6 November.

The objective of the fund will remain unchanged, but a risk guideline of ‘there will be a moderate risk to capital’ is to be added.

The fund’s objective is to provide a total return in excess of UK inflation plus 2% over a rolling three-year horizon and this will remain unchanged.

The team of Alex Scott, deputy chief investment officer (CIO); Ian Jensen Humphreys, senior investment manager; Camilla Ritchie, senior investment manager; and Matthew Yeates, quantitative investment manager, runs the fund.

Robert Poulten, head of sales, at Seven Investment Management (7IM) said: ‘Feedback from investors and advisers was that the title ‘7IM Unconstrained fund’ did not fully reflect the nature of the fund. The new name – 7IM Real Return fund – better describes the objective of the fund.’

Over the last three years, the fund has returned 19.3% to investors (up to the end of September), compared to a peer group return of 11.6%.

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