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Neptune aims for 4% yield from global income fund

Neptune Investment Management is set to introduce a global income fund in the last week of the Isa season to capitalise on growing investor interest in overseas income funds.

The fund will be run by managing director and chief investment officer Robin Geffen and his team and will be weighted equally between 50 stocks across the US, Europe, Japan and the Far East.

It aims for a starting yield of between 3.5 and 4 per cent and will pay dividends in September and March.

Geffen says: “There is fanatical interest in income funds at the moment. The UK is a traditional high-yield market but we think there is room for a global offering. The timing is dependent on intermediary feedback but, if it is strong, we will launch at the end of March.”

Chelsea Financial Services managing director Darius McDermott says: “The two trends for this tax year are diversified income and global property. Knowing the way Neptune’s income team operate and looking at their global equity performance, they would have a strong offering in the global income space.”

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