Aberdeen Asset Managers is introducing the American monthly income trust.
The product is an offshore split capital investment trust based in Jersey and is aimed at institutional investors as well as sophisticated invdividuals who are looking for income and growth.
American monthly income will have three classes of shares, ordinary income, annuity income and zero dividend preference. It will invest in a portfolio of American stocks and shares, which will aim for growth, and which will include companies such as General Electric, Cisco, Intel, Citigroup and Oracle. It will also invest in UK corporate bonds, which will aim for income.
America has experienced strong growth in recent years and there is no sign as yet to a slowdown in its economy. However the rise in the global price of oil, currently at its highest level for 9 years, might have an adverse affect, especially as America is one of the biggest users of oil in the West and is extremely reliant upon it.
According to Standard & Poors the Aberdeen IF American fund is ranked 85 out of 100 funds, based on £1,000 invested on a bid-to-bid basis with gross income reinvested over three years to September 11, 2000.