Royal London to launch high yield bond fund

Royal London Asset Management is launching a high yield bond fund in March, with a target yield of 8.5%. The Royal London High Yield Bond fund will be managed by Jonathan Platt, the group's head of fixed interest. The fund will be at least 80% invested in sterling sub-investment grade bonds in order to be classified in the Autif UK other bond sector, but will have scope to look outside that universe. Platt said: 'It will primarily be invested in sterling bonds, with a mixture of sub-investment grade bonds, bonds at the lower end of the ratings spectrum, unrated bonds that the market ...