The latest developments include the launch of a new Global Asset Management (GAM) fund and the closure of the CorporatePlus, Spotlight Emerging Europe and Spotlight Latin America funds.
These three funds have been closed to new investments although existing investments will continue to be managed. The decision to close these Funds arose from a review of the existing products and market requirements. This review indicated limited future growth in the funds as well as overlap resulting from the merger of Tower Trust Services and the investment division of Trustees Executors last year.
The new Tower GAM Global Opportunities Trust has a minimum investment of $500,000 and is designed for large personal, corporate or institutional investors and master fund / wrap service providers.
Other changes include:
General manager Richard Baker says TMF is actively managing its product line-up so it has a range of funds that met investors needs.
"Product leadership is more than just launching new funds. Listening to your investors and advisers and being prepared to make the necessary changes to existing products is a large part of being a good fund manager," he says.
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