Royal & SunAlliance Investments is to launch a high-yield corporate bond Oeic fund on 17 January wit...
Royal & SunAlliance Investments is to launch a high-yield corporate bond Oeic fund on 17 January with a target yield of 8.6%, writes Leo Bland.
The Royal & SunAlliance Extra Income Bond fund will be run by James Foster. Foster runs the High Income Bond which is a corporate bond fund. Around 50% of the portfolio of the new fund will be in investment grade bonds with around 50% in sub-investment grade debt including European high-yield bonds.
The fund will not be investing in corporate bonds with a rating lower than B. Around 60% of the currency exposure in the fund will be in euros with around 40% in sterling, with the euro exposure hedged. IFA commission for Isa investments in the fund is 4% initial and 0.25% renewal. For Oeic investments, IFA commission is 3% initial and 0.25% renewal.
The initial charge for Isa investments is 4% and is 5% for Oeic investments. The annual management charge on Isa and Oeic investments is 0.75%.
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