Smith & Williamson adds balanced sub-fund to its OEIC

Chartered accountancy and investment management firm Smith & Williamson has added a Balanced Portfolio sub-fund to its Dublin-registered OEIC to sit alongside the Growth Portfolio Fund launched in March 2000. Benchmarked to the Apcims Balanced index, the new fund is aimed at private clients seeking a small income from a single holding as it is intended to yield 2.5% pa. The Balanced index has 20% of its assets placed in bonds, 55% in UK equities and 20% in international equities. Like the growth fund, the balanced fund has gross roll-up and fees are taken from the gross fund. L...