BC Asset Management (BCAM) has brought in the BC income and growth fund.
The fund is a Guernsey-based split capital investment trust that has been aimed at experienced investors who are looking for income and growth.
BC income and growth will be split into two halves. Sixty per cent of the trust will be invested in the income portfolio, which will consist of ordinary shares of split capital trusts. The remaining 40 per cent of the trust will be invested in the zero portfolio, which will consist of zero dividend preference shares of split capital trusts.
Management of the fund will be dealt with by David Bruce and Michael Yeo. Bruce managed the BCAM Yeoman investment trust from 1992 until its recent restructuring in 2000, while Yeo has been the manager of the BCAM US growth & income fund since its introduction in July 2000.
According to Standard & Poors the Yeoman capital investment trust is ranked 1 out of 27 funds, based on £1,000 invested on a mid-to-mid basis with net income reinvested over a one year period to March 5, 2001.