London & Capital has made its first move into the UK retail sector with three income funds.
The global income conservative, balanced and growth funds are risk-graded portfolios with Ucits III powers. The funds are managed by chief investment officer Ashok Shah and the fixed-income team.
Investment director Tony McLoughlin says the company has been looking to identify products that will allow UK clients to take advantage of the decision to lower capital gains tax from 40 per cent to 18 per cent by limiting the tax liabilities on withdrawals.
He says: “Due to the disappointing returns being generated from cash and the relative uncertainty of a smooth global recovery, there is a high demand for income-based products in the UK across all areas of the market. It was an easy decision to make the new funds and our investment expertise available.”
The funds are domiciled in Ireland and offer weekly liquidity. Minimum investment is £35,000 with top-ups and withdrawals are set at £10,000. Initial charges are 5 per cent and annual are 1.25 per cent.