Challenger higher yield fund launch

Australian financial services group Challenger is to launch a higher yield corporate bond fund to intermediaries this October, writes Simon Falush. The product, which will have an Isa wrapper, is to be run by Peter Smart of Brewin Dolphin. This is the first of a planned series of product launches by Challenger, which took over traded endowment policy specialist Neville James earlier this year. The portfolio will have up to 25% in higher risk paper with a core 75% in investment grade corporate bonds. Peter Mason, investment director at Challenger, said: 'It is often possible to find bo...