Investment Manager Selection is waiving the initial charge on its new select income fund until December 10.
The Oeic-structured cautiously managed fund aims for top-quartile returns and has an estimated yield of 3.46 per cent above inflation.
The fund was launched on October 15 and will have an initial 5 per cent charge after the launch period. Minimum investment is £5,000 and annual charge is 1.5 per cent. Commission is up to 3 per cent with 0.5 per cent trail.
The fund will be managed by Giles Gilbertson, Paul Kim and Richard Timberlake.
IMS, which was established in 1999, advises and manages assets in excess of £2bn. It already runs two retail funds of funds – the sterling-class IMS select fund and the dollar-denominated IMS global select fund.
Gilbertson says: “We are aiming to offer investors a pragmatic balance between sustainable yield and capital appreciation across a fully diversified raft of holdings, making it a compelling core holding in a balanced portfolio.”