Funds Watch and product launches
News from SWIP, Aviva Investors, Deutsche Bank, Lyxor, Pioneer Investments, Lipper, STOXX, S&P Capital
SWIP launches European high yield bond fund
Scottish Widows Investment Partnership (SWIP) has launched a new European high yield bond fund.
The fund will be co-managed by Steve Logan, head of European high yield, and Lesley O’Neill, investment director, European high yield. Jointly they have over 32 years’ experience and have worked together for over eight years.
The duo will manage the fund using a best ideas approach, identifying high yield bond opportunities across the European high yield bond market to construct a portfolio of around 75 stocks.
Whilst the fund will retain a European bias, the best investment ideas from the company’s New York-based high yield team will also be used.
Aviva Investors launches defined growth fund
Aviva Investors today announced the expansion of its structured product range with the launch of its third fund in the defined growth fund series.
Tailored to the needs of UK financial advisers and their clients, the fund aims to provide an attractive return with less risk than investing directly in the stock market.
It offers a return of 11% per annum and has a six year maximum term, but it may mature early on any anniversary. The performance is based on the FTSE 100 Index. It aims to protect investor’s capital so long as the index does not fall by more than 50% from its initial level during the product’s term.
A minimum of £1,000 is required for a direct investment and £500 if within a stocks and shares ISA. The Fund plans to be open to investment for nine weeks, closing on 10 February.