Edinburgh Fund Managers is relaunching its UK fixed interest fund as part of its newly-created Oeic.
The £23m fund was created by the amalgamation of Edinburgh Convertibles and the Edinburgh Preferred Higher Income in June this year.
As an alternative to the standard quarterly income distribution, there is a monthly withdrawal facility allowing investors to take a fixed income of 7.5 per cent per annum of their original investment down to a minimum monthly payment of £25.
Dealing in the fund, which is fully pepable, will commence on 1 October 1998. The annual management charge is one per cent.
Group marketing and sales director Nigel Whittingham says: "The aim of the fund is to provide a competitive yield achieved through investment in high quality stocks. We believe the fund will prove valuable to IFAs who wish to provide a fixed monthly income for their clients, rather than taking the variable quarterly dividend."