Nationwide launches high income fund

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 p...