FINANCE NEWS: Merger places new investment fund on the charity market

A new investment fund has entered the charity market following the merger between the Real Return Holdings Company and Veritas Asset Management.

The new company, named The Real Return, has £400m under its management.

Between £40m and £60m is invested on behalf of charities. The rest is made up of private clients and other institutional investors.

Director Anthony Rosenfelder said the fund would be "selectively" marketed to the charity sector. There are plans for "one or two" new fund products.

Rosenfelder added that the fund's philosophy would be to combine a stock picking equity portfolio designed to provide capital growth and bond investments supplying the income that charities need to fund their obligations.

The company has a team of seven investment professionals. The directors are Rosenfelder, Stewart Newton and Charles Richardson.

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