The fund is the first to be launched under MAM Funds plc’s newest brand ‘Acuim’, adding to the other established brands of ‘Midas’ and ‘Miton’.

It will be run by Gervais Williams, managing director of MAM, and manager of the Diverse Income Trust. He will be supported by senior fund manager Martin Turner who joined the company in May 2011.

Its aim is to provide attractive levels of dividends coupled with capital growth over the long term. The fund is able to invest across the market cap spectrum of UK quoted companies and will make selections on the basis that they have scope to grow dividends at a faster rate over the long-term.

MAM says that there are are number of reasons for advisers to consider the Acuim UK Multi Cap Income Fund:

• The target yield of 5%+ - fees and costs are charged against capital so all dividend income can be paid to the investors
• A way to diversify the delivery of income and growth alongside existing income and growth funds
• The flexibility to invest in UK companies of all market capitalisations
• Not benchmarked and certainly not a ‘closet index hugging mentality’
• Current depressed equity income share valuations
• Fund manager, Gervais Williams’ long term track record of outperformance
• Quarterly income payments
• A diversified portfolio of 80-120 holdings

The launch follows the successful arrival of the Diverse Income Trust earlier this year and provides investors with a further way to access Mr Williams’ fund management expertise through an open ended vehicle.

Gervais Williams, managing director, MAM Funds, said: “Our aim is to provide good and growing income for our investors. We believe there is a gap in the market in relation to income funds as most have a profound large cap bias, coupled with high sector or stock specific exposure.”