Nationwide Building Society launched a new income fund this week that aims to offer 6.5% a year...
Nationwide Building Society launched a new income fund this week that aims to offer 6.5% a year to members.
The High Income Fund is a unit trust, which invests mainly in UK corporate bonds and fixed interest securities. The fund is CAT marked with a 1% annual management fee and available inside and outside an ISA.
Mark Jenkins, managing director of Nationwide Unit Trust Managers said: "This new income fund is the latest in a long line of investment products launched by Nationwide. In the current economic climate we recognise that there is a need for a product which generates a particularly high rate of income for investors with the minimum of risk."
The minimum lump sum investment is £500 and the fund is managed by Merrill Lynch.
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