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Aegon launches UK equity income fund

Aegon Asset Management is launching a UK equity income fund on June 30.

The launch, first revealed by Money Marketing in (April) is designed to provide investors with competitive income and the potential for capital growth.

The new fund will be co-managed by Douglas Scott and Iain Wells who currently run the Aegon Scottish Equitable distribution life fund.

The fund will target an income of 110 per cent of the FTSE Share as at July 31 each year. It will invest at least 80 per cent UK equities but will have the flexibility to make tactical investment in bonds and overseas equities.

Aegon Asset Management head of sales Steve Kenny says: “The fund should appeal to those retail investors looking for competitive income plus the potential for growth through a broad portfolio of UK equities.”


The fast line

Last week, former BM Solutions managing director Michael Bolton claimed up to 80 per cent of HBOS loans were approved without full proof of income before the credit crunch.


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