Sarasin is launching an income Oeic aimed at cautious investors with a target yield of 4.5%-5% while...
Sarasin is launching an income Oeic aimed at cautious investors with a target yield of 4.5%-5% while preserving or building up capital.
Launched in May, the Sarasin Income Portfolio will mirror Sarasin's Guernsey-based Income fund, launched in July 2002.
The UK Oeic will be jointly managed by Daniel Briggs and John Godley, and sit within the IMA's cautious managed sector. The offshore version holds 75% bonds, 22% equities, 0.5% convertibles and the remainder in cash. Within the allocation to fixed interest, about 50% is invested in higher grade corporate bonds, with the remainder in government issues. Charges are to be taken from income rather than capital.
The minimum investment is £1,000 and the new fund will be Isable and Pepable.
Joined as head of strategy, multi asset, in June
Group income protection
Nine in 10 do not have income protection
Set to become part of Single Financial Guidance Body