Harewood launches new UK structured fund

Harewood Solutions, a part of BNP Paribas, is launching a new UK Enhanced Income fund.

The product will be linked to the FTSE 100 index and will pay a quarterly gross yield of 8% per annum, while also seeking capital growth over time. UK Enhanced Income will be quoted on the London Stock Exchange and offers investors daily liquidity and a tight bid offer spread around the NAV. It is intended to achieve the fund's high income through the combined returns of the equity dividends received on the FTSE 100 Index and through BNP Paribas' Daily Buy-Write strategy which sells short term call options on a daily basis. "Amongst its strengths the UK Enhanced Income fund counts ...