Corporate bonds bias for AIB Oeic

AIB Govett is changing the investment remit on its Monthly Income Oeic sub-fund, writes James Thorneley. Historically, the £11m portfolio was invested 55% in UK equities and 45% in emerging market government debt. Recently the group has found it increasingly hard to maintain the 8% yield offered by the fund, by investing in emerging market debt, according to Matt Hudson a fund manager at AIB Govett. He said: "It used to be the case that Turkish debt offered a high yield but as the paper's credit rating improves the level of yield declines." He added it had been decided to reduce the f...