Govett income fund launch

Govett Investments has brought out a monthly income bond fund looking to provide a gross yield of 7.40% from a portfolio without AAA or AA rated paper, writes Adam Lewis. The Govett Corporate Monthly Income Oeic, domiciled in Dublin, is to be run by Richard Wisentaner who already manages the £5.6m Govett Corporate Bond fund. The initial will be 3.5% with an annual management fee of 1.25%. Compared to the Merrill Lynch Sterling Corporate Index the fund will be much more heavily weighted towards the BBB area with 47.67% compared to the benchmark 11.73%. The fund will be underweight in...