MPL launches income class on Traded Policies Fund

The new Sterling Income share class provides income free from redemption penalties and will be issued quarterly at a rate of 1.25% by redemption of shares. Jeremy Leach, managing director of MPL, says there is a gap in the market for funds that deliver an attractive income with a reasonable prospect for capital growth. “People need a reasonable income from their investments and they cannot live on the 0.5% or less interest they can expect from the banks. Based on an overall annual return of 9% in the Traded Policies Fund, even with 5% income per annum the capital value is still rising by...