Titan Wealth have announced that the Tideway UCITS Funds ICAV has appointed Titan Investment Solutions as Investment Manager to the newly renamed Titan Hybrid Capital Bond Fund (the Fund). As a result, the investment team, which includes Peter Doherty and Chris Turdean, has joined Titan Wealth to manage and grow the Fund.
The Fund was incepted in August 2016 and has since returned 24.3% to investors and 11.7% over the last 12 months. It invests in high quality global issuers, lower down in the capital structure to achieve enhanced yield. It now boasts a Yield to Maturity of 8.8% and an Effective Duration of 5.2 years, positioning it well to prosper at the back end of the current rate hiking cycle. The Fund’s distributing share-class has provided investors with a distribution yield of 7.6% over the last 12 months (£6.64p per unit).
The Fund will be run by Peter Doherty, Head of Fixed Income and Lead Fund Manager. Peter has over 35 years’ experience in fixed income markets. He set-up the Tideway UCITS Funds ICAV and has been Lead Manager on the Titan Hybrid Capital Bond Fund (previously the Sanlam Hybrid Capital Bond Fund) since its inception in 2016.
Peter will be accompanied by Chris Turdean, Investment Associate. Chris has 5 years’ experience in fixed income and started his career working as Portfolio Manager Assistant on the Fund.
Paul Hunt, CEO Titan Asset Management, comments:
“We are thrilled to welcome Peter and Chris to Titan. The investment team have done a fantastic job of managing the Titan Hybrid Capital Bond Fund since its inception, bringing an impressive track record and the highest rating of 5-Crowns from FE fundinfo.
“As part of the Titan Investment Solutions team, Peter and Chris will play a key role in building out our in-house fixed income offering, with new and innovative products that meet the needs and requirements of Titan Group’s clients and the broader UK wealth management market.”
Peter Doherty, Head of Fixed Income, comments:
“It is exciting to combine the dynamic growth culture at Titan with an incredible opportunity set in the fixed income markets. We look forward to creating and managing differentiated fixed income funds and products for the benefit of private clients both within the Titan Group and across the wider UK Wealth Management and DFM markets.”