F&C Higher Income offers 8% yield

Foreign & Colonial Higher Income Plan offering a yield of 8% will have no front-end charge until the 20 April, writes James Thorneley. All brokers, who register with the company, will be able to offer the product as a unit trust, Isa or Pep transfer to their clients with no initial charge while still taking 3% commission paid by F&C. The annual management fee is 1.5% with IFAs receiving 0.5% renewal. The £411.5m fund, managed by Stephen Dolbear, seeks to generate an income return 2% above the UK base rate, now at 6%. Income is distributed on the 28th day of each month. The portfolio now ...