New Star Investment Funds will launch its first bond fund into the market in two weeks time, managed...
New Star Investment Funds will launch its first bond fund into the market in two weeks time, managed by recent arrival James Gledhill.
Gledhill's management of the fund could see consumers flocking to the New Star brand again, say IFAs, as Gledhill is seen as one of the best bond managers in the market, given his previous experience as manager of the M&G Corporate Bond Fund.
Special offer period on the New Star High Yield Bond Fund is open for just three weeks between 23rd September and 11th October, but discounts are available on the 4.25% initial charge of both lump sum investments and PEP and ISA transfers.
New Star is aiming to product gross estimated income and redemption yields per annum of 7%* and 6.8%* respectively, with income to be paid quarterly.1
Around 55% of assets will be placed in corporate bonds, while the remaining 45% will be allocated to investment grade bonds, so around 70% is invested in sterling bonds, 20% in European and 5% in US bonds.
IFAs will receive 3% commission plus 0.5% trail fee, while consumers will receive a 0.5% discount available on lump sum investments made during the launch period and 0.75% discount on PEP and ISA transfers.
Gledhill will receive support from Theo Zemek to manage the fund containing between 50 to 100 holdings.
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