Schroders is planning to create a multi-manager product based on its popular Income Maximiser range, which would offer investors a 7% yield and monthly income distribution.
The fund of funds product, which is set to follow the February launch of Schroders’ new Global Property Income Maximiser vehicle, would invest across the group’s range of five quarterly-paying Maximisers to provide this monthly payout. Schroders currently has two onshore enhanced income vehicles, the £727m Income Maximiser and £70m Asian Income Maximiser funds. It also has offshore Global Dividend Maximiser and European Dividend Maximiser funds. Head of UK intermediary Robin Stoakley said the group may use external funds in the MM vehicle, but would prefer to use the fettered approach...
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