Managing Partners has launched the first income share class in its traded policies fund, giving retail investors an income of five per cent per annum with the prospect of capital growth
Managing Partners has launched the first income share class in its traded policies fund, giving retail investors an income of five per cent per annum with the prospect of capital growth.
The new sterling income share class provides a five per cent annual income free from redemption penalties. The income will be issued quarterly at a rate of 1.25 per cent by redemption of shares.
Jeremy Leach, managing director of Managing Partners, says: ‘There is a real gap in the market for funds that deliver an attractive income with a reasonable prospect for capital growth. People need a reasonable income from their investments and they cannot live on the 0.5 per cent or less interest they can expect from the banks. Based on an overall annual return of nine per cent in the traded policies fund, even with five per cent income per annum the capital value is still rising by four per cent.’
The GBP growth share class in the fund, which is available to retail investors, returned 10.47 per cent net of all charges in the 12 months to 1 January 2009. Over the 12 months to 1 June 2009, the GBP growth share class delivered 9.78 per cent.
