Standard Life adds Bill Mott’s PSigma Income Fund to FundZone

Standard Life has announced that it has added the PSigma Income Fund to its mutual funds platform, FundZone, which was launched earlier this year.

The PSigma Income Fund, managed by Bill Mott, was launched on 5 April 2007, having raised £108 million during the launch period and is now £230 million in size and sits in the Equity Income Sector. Bill Mott is one of the best known equity income fund managers in the market, having spent 30 years at Credit Suisse, prior to becoming a founding partner of PSigma Asset Management in February 2007.

The fund currently has an overweight position in financials with 25% in banks, relative to an index weighting of 17%, and 10% in insurance stocks, mainly life companies. Bill Mott initially invested in bank shares as part of the mega cap bias of the Fund and over the last few weeks has increased the Fund’s exposure to the banking sector from an initial weighting of 22%, on the belief that the sector offers outstanding long-term value. PSigma UK Income Fund does not have a holding in Northern Rock.

Eric Bruce, National Account Manager, at Standard Life Assurance Limited said, “We are regularly increasing and expanding the range and quality of the investment options we offer our customers, via FundZone. I am pleased we have added Bill Mott’s PSigma Income Fund to our mutual funds platform and am confident that the inclusion of this fund will prove extremely popular with both Standard Life’s advisers and their clients.”

Ian Chimes, Managing Director of PSigma Asset Management said, “We are delighted to be working with Standard Life, whose reputation in the marketplace is exceptional. This will enable a wider range of investors to access Bill Mott’s new PSigma Income Fund via FundZone.”

Eric concluded, “Not all fund platforms are the same. There are variations in service levels, prices, technology and commitment to advisers. For example, advisers using our platform benefit from greater choice in terms of the charging structures and commission options on offer. Added to the fact that advisers are also supported by Standard Life’s extensive, experienced sales force, we believe this sets FundZone apart from the competition.”

Launched in February of this year, FundZone has been designed specifically to help advisers manage their clients’ funds with efficiency and ease.