Axa Isle of Man has launched the Evolution Extra Income fund that aims at a high level of income while maintaining capital over the medium to long term.
The portfolio invests wholly in the Axa Investment Managers Limited Extra Income Fund Oeic. This underlying fund has an AA Standard & Poor's fund research rating and a 4-star Micropal rating.
The fund invests primarily in sterling fixed interest securities with a benchmark minimum of 20% exposure to high-yielding UK equities.
But, the Evolution Extra Income fund has the benefit of no initial charge and an annual management charge of 0.5%.
The Evolution fund range is available to Evolution and Estate Planning Bond policyholders.
Axa's internal Evolution range of funds consists of 10 funds covering many different geographical investment sectors.
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