7IM launches first in-house managed fund

Seven Investment Management (7IM) has launched its first internally managed fund with the soft launch of the CF 7IM Unconstrained fund to be managed by Alex Scott and Camilla Ritchie.

The unconstrained fund which has the flexibility to invest in 100% cash or a range of assets including European sovereign debt, was soft-launched last week into the Investment Management Association's 'unclassified' sector.

It is a non-Ucits retail scheme and can invest across asset classes as well as in shares, debt, active and passive funds.

The vehicle, seeded by Justin Urquhart Stewart (pictured) 7IM marketing director, and Tom Sheridan who is chief executive, will aim to deliver inflation plus 2% on a three-year rolling basis.

Urquhart Stewart said: ‘This is the first time we are running a fund ourselves and it can invest in anything, such as sovereign debt, standard equities and funds, both active and passive.

‘We may well look at European sovereign debt. That’s the sort of level of unconstrained investment we are looking at.’

He added: ‘Italy, for example. If we think the euro will survive, then there are returns on some Italian debt which are really interesting, as well as Italian index-linked securities.

‘So the breadth of this fund is interesting, which under a normal structure we couldn’t do.’