DWS Investments has tied up a distribution deal with Winterthur Life, which will offer the newly lau...
DWS Investments has tied up a distribution deal with Winterthur Life, which will offer the newly launched DWS UK Equity Income Plus Fund through its life and pensions products.
The fund will be available via the Winterthur Life open-platform pension and will carry a fund management charge of 1.1% per annum with no entry or exit charges.
Bernard Henshall, investment development manager at Winterthur Life, said: 'We believe intermediaries understand the attractions of good quality equity income funds and have an appetite for innovative solutions to client needs. Which is why we believe this fund will be a success and we are delighted to be able to offer intermediaries access on an exclusive basis.'
The Graham Ashby-managed fund, launched earlier this month, consists of a concentrated portfolio of around 40 stocks equally weighted at 2.5% and targets a gross yield of 6%. Positions are re-balanced once their weighting rises or falls by a maximum of 1%.
DWS said weighting the stocks equally avoids replicating the stock market and is intended to contribute to the higher income performance target, equal to 130% of the yield provided by the FTSE All-Share Index.
The strength of the yield is facilitated by the group's charging of annual management fees to capital.
Andy Clark, head of UK Retail Distribution at DWS, said the deal confirmed the fund was launched at the right time.
More than £3bn transferred
Available to 80,000 employers
Covered call option strategy
Impact on markets
Cunningham Coates wealth manager