Royal London Asset Management (RLAM) has launched a fixed income fund-of-funds product with a flexible remit that will aim to deliver an income of 5%, with opportunities for capital growth.
The Royal London Monthly Income Bond fund, which has been soft-launched and will be marketed in September, will be managed by RLAM's head of fixed income Jonathan Platt. It will mainly target IFAs and wealth managers. Structured as a fund of funds, and carrying a management fee of 0.35%, the portfolio will invest in a number of underlying RLAM credit and high yield portfolios, and will have the option to hold up to 30% in individual bonds and other fixed income securities. It will also be able to invest in unrated securities, gilts and foreign sovereign debt. Platt (pictured), who wil...
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