Cavendish expands UK product offering

The Cavendish UK Balanced Income and UK Select funds are defensive portfolios aimed at cautious investors. UK Balanced Income comprises 20% to 80% in bonds and the remainder in equities, and targets a return of 120% of the yield of the FTSE All Share. It is managed by Julian Lewis, who also runs the Cavendish Worldwide fund. Meanwhile, UK Select is a UK All Companies fund focusing on the mid and large caps within the FTSE 350, managed by Paul Mumford. The group says the fund is designed to offer lower risk returns and stable growth. Mumford also runs the group's Opportunities fund, wh...