Fund buyers have welcomed the March launch of Woodford Investment Management's Income Focus fund, describing the higher yield targets and lack of geographical restraints as appealing, but they have also questioned where a global income fund with a UK core could fit within asset allocation models.
Details of the new fund emerged late yesterday with the group confirming the CF Woodford Income Focus fund, its second open-ended vehicle, will be launched in March 2017. The fund will aim to deliver what one buyer described as "punchy" income of 5p per share in its first full calendar year in 2018, after which fund manager Neil Woodford (pictured) will aim to deliver modest sustainable growth in per share income over a five-year rolling period. Investors should be aware the fund will not target a specific yield and there is no guarantee that any specific level of yield or income will...
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