UK - Royal London Asset Management has launched a new high-yield flexible bond fund.
The sterling extra yield (S£XY) fund gives options to invest in a variety of bond classes.
Investors can opt for 100% in investment grade bonds or take 75% in sub-investment grade, for example.
RLAM head of sales Stan Bland said: “It’s the ‘X’ factor in S£XY that makes it stand out against other funds.
“We are offering a yielding bond fund with a 7.5% gross redemption yield, without a huge leap up the risk scale by investing in bonds with securities over assets.”
The share class “A” version of the fund, which is tailored to institutional customers, will require a minimum lump sum investment of £100,000.
There is no initial fee and an annual management charge of 0.75%.
Scottish Widows has completed a bulk annuity deal for the Hitachi UK Limited Pension Scheme.
The lifetime allowance will rise to £1,054,800 from April next year as the Office for National Statistics (ONS) recorded inflation at 2.4% in the year to September.
The national procurement frameworks for the Local Government Pension Scheme (LGPS) has been expanded to include member data services.