The Veritas Global Equity Income Fund has scooped an award for the second time at the FT / Investors Chronicle Wealth Management awards in London which took place on the 29th April.
The Fund, which has taken in over £400 million of inflows in the last year, scooped the award for Winner Best Income Wealth Manager for the second year running.
This award is for the wealth manager that has delivered outstanding returns to its income investor clients and has a clear and convincing strategy for generating income going forward.
Charles Richardson, Chairman and Chief Executive of Veritas UK, commented:
"We are delighted to have won this prestigious award from Investors Chronicle. At Veritas, we employ a long term, real return focus and aim to both protect and grow the purchasing power of our clients’ capital. To do this we take a multi-dimensional approach to risk rather than one based solely upon volatility."
"Our focus on fundamentals and our long term perspective has enabled us to preserve our clients’ capital in real terms and produce resilient performance in the face of volatile markets. We have exceeded our annual dividend targets and have grown the dividend year on year. At the end of March 2010 the running yield was 4.9%. It is extremely rewarding to have this recognised by Investors Chronicle."
The pioneering Global Equity Income Fund is co managed by Veritas CEO Charles Richardson and Andy Headley, both of whom also co-manage the firm’s award winning Global Focus Fund and recently restructured Global Real Return Fund. The Global Equity Income Fund is now £480 million in size and has returned 68.70% GBP Class since inception* against the MSCI World Index performance of 43.56%, with considerably less volatility than a broad global equity index (standard deviation of 13.1% p.a. against 16.4% for The MSCI World Index). The fund seeks to grow capital in real terms, UK CPI + and aims to generate an income in excess of 115% of the FTSE All-share yield.
May 2010
* Performance figures quoted since Fund inception February 2005 to March 2010.