Peleg to manage Gartmore Monthly Income product

Gartmore is launching a Monthly Income Fund on 8 February offering a net running yield of approximately 7.88%. The Gartmore Monthly Income Fund, which was first reported in Investment Week last year, will have an initial charge of 1.52%, with an annual management fee of 1.25%, and a back end charge of 1.5% for those who exit within five years. There is also a 1% charge for investors switching into the fund from other Gartmore unit trusts. There is no charge for investors switching within Gartmore's Isa. Minimum investment is £1,000, with additional top ups in tranches of £250. The mi...