Investment firm Ravenscroft Group will be expanding its fund range with the addition of the Ravenscroft Higher Income Fund.
Set to launch in May, the fund is designed to help people looking for a higher level of income to take advantage of some of the opportunities that have been created by the rapid rise in interest rates over the last 12 months and will be targeting an initial yield of 6% at launch.
The fund will be available in Guernsey, Jersey and the Isle of Man.
Its objective will be to deliver a higher level of income than is available on more cautious products such as bank deposits. The fund’s portfolio will consist of bond funds, equity funds, and investment trusts, with a focus on maximising current income.
The fund will invest into a range of asset classes, including:
- Developed and emerging market dividend paying equities;
- Investment grade and high yield corporate bonds;
- Specialist bonds;
- Short-term bonds and cash equivalents; and
- Infrastructure bonds and equity.
The firm said: “The team have also been exploring the possibility of launching a higher income strategy for a number of years and are excited that the events of the last 12 months have provided the ideal opportunity to finally bring this product to market.”
