New fund from Lloyds TSB Offshore Fund Managers

The fund, which invests in investment-grade Eurobonds and distributes income quarterly, aims to deliver euro investors an attractive 4.5% income, although this cannot be guaranteed. Nigel Jeacock-Fewtrell, director at Lloyds TSB Offshore Funds, said: “This is an important launch for Lloyds TSB OFM, as we see the income needs of euro investors become more significant. “We believe we can follow up the tremendous success we have achieved with our existing Sterling High Income Fund, which has grown to over £300 million, with this euro version offering a target yield of 4.5%.”