Newton and Schroders plan overseas income offerings

Newton and Schroders are both to offer further overseas income funds in the near future. Newton is to launch a European equity income vehicle early in 2007, subject to FSA approval, while Schroders is to restructure its Far East portfolio as an income offering. Schroder Far East Income expects to yield around 3.5% and will convert on 1 December, provided the move receives unit holder approval. Richard Sennitt, who has managed the Schroders fund since November 2001, will continue as manager. Neil Bridge, head of sales at Schroders, said the group's Oriental Income investment trust raised...