WAY unveils Gold and Green funds

WAY Fund Managers (WFM) is launching the WAY Charteris Gold Portfolio and WAY Green Portfolio funds with Asian and Best Ideas portfolios to come later this year.

The funds will be run by external managers and advised by WAY's recently established Star Chamber of eight independent managers.

Its gold vehicle is a long-only portfolio which will predominantly invest in global blue chip gold mining companies, but can also buy mid and small cap stocks. The vehicle can also hold up to 10% in other funds such as ETFs and Gold ETCs.

The fund will be managed by Ian Williams of gold specialists Charteris Treasury Portfolio Managers, a discretionary manager set up 26 years ago.

WFM sales and marketing director Eddie O' Gorman says: "Gold has been a clear winner in recent years - traditionally seen as a wealth preserver, the asset class is also a useful hedge against the US dollar, while consumption is increasing markedly in both India and China."

Meanwhile, the green portfolio will invest in funds run by houses specialising in environmentally friendly investing, or with a long track record in this area. The fund's investment themes are alternative clean energy water, waste management and recycling.

It will be run by Duncan Carmichael-Jack and Ian Lim of Vestra Wealth, an investment boutique set up by former members of UBS Wealth Management in 2008.

Minimum investment for both funds is £5,000. The initial charge is 5.25% with commission available at 3% initial and 0.5% trail. AMCs are 1.75% for the Gold Portfolio fund has an AMC and 1.5% for the Green Portfolio mandate.