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Aubrey launches defensive fund for Brooks founder Gumpel

Jon Gumpel’s new fund will aim to have reduced volatility, with 30 to 50% of the level of equity markets.

Aubrey Capital has launched a defensive income fund for Jon Gumpel (pictured), targeting a yield of 3.2% paired with capital growth.

The SVS Aubrey Citadel fund will invest in a range of equities, bonds and alternatives, with volatility risk aimed at 30 to 50% of equity markets.

The fund will allocate a minimum of 20% of its portfolio to equities (max 60%), and will have a 20% minimum allocation to bonds (max 70%). It will also have the option to invest in REITs, structured products, and other alternatives.

Gumpel has made a ‘significant’ investment into the new strategy himself, in order to ensure alignment with investors.

A founder share class offer is available until the strategy reaches assets under management (AUM) of £40m.

Fees for the founder share class will be 0.36%, while retail and institutional share classes will be 0.7% and 0.5% respectively.

Gumpel joined Edinburgh-headquartered Aubrey in July 2020 after more than 28 years at Brooks Macdonald, where he was a founding partner.

At Brooks he managed the IFSL Brooks Macdonald Defensive Capital fund (DCF) for 10 years, which had £700m at the time of his departure.

The new Aubrey fund will have a similar approach to DCF.

Gumpel said: ‘Defensive investors face a range of challenges in today’s markets, and we are seeking to provide an attractive defensive and diversified option to help them.

‘The fund is focused both on shorter term protection of capital as well as on longer term capital maintenance and income growth, to do this at low cost with a full range of conventional and alternative assets, and with scope for additional alpha and diversification from the Aubrey equity engine.’


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