Royal&SunAl bond fund

Royal & SunAlliance Investments plans to bring out a high yield corporate bond fund next month with the yield expected to be up to 11.5%. The Oeic, to be called the Maximum Income Bond fund, is to be launched on 20 November and will have the majority of the portfolio in sub-investment grade stock. The fund, to be managed by Fatima Luis, will have around 70% in B rated corporate bonds, around 5% in CCC rated stock with the remaining 25% split between BB and BBB. The exact target yield has yet to be finalised. The broad geographic exposure of the Maximum Income Bond fund will be around ...