Manager highlights essential differences between US and UK and Europe as RMBS-based Monument Bond launches at UK retail space
Credit specialist TwentyFour Asset Management has this month unveiled the first UK fund based on residential mortgage backed securities (RMBS) aimed at retail investors. The Monument Bond fund - a Ucits III vehicle sitting in the IMA Corporate Bond sector - has broken new ground for the company, which previously only operated in the institutional space after coming to market in 2008. It targets an initial yield between 6% to 6.5%, with income paid twice annually. Minimum investment is £5,000. Ben Hayward is one of the four fund managers and is also co-founder of London-based Twenty...
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