View more on these topics

Schroder Monthly High Income fund to be renamed and add capital growth target

Fixed-Income-Portfolio-Coins-Pounds-Growth-700x450.jpgSchroders is changing the name and investment objective of the £330m Monthly High Income fund.

The fund is being renamed as the Schroder High Yield Opportunities fund and the investment objective will include capital growth, while still focusing on income.

In a letter to investors, director Robin Stoakley says: “We believe the change of name better reflects the asset class that the fund invests in (high yield) and the investment style adopted by the fund manager (unconstrained total return).

“While the fund’s focus is on producing a sustainable level of income from investment in higher yielding corporate bonds, it has always sought to provide some capital growth, and we now wish to make that clear in the objective.”

The investment process will remain unchanged and the fund will continue to pay income monthly. However the risk profile of the fund is being upgraded from low-to-medium risk to medium risk.

The changes take effect on 17 February.

Michael Scott has run the fund since August 2012. Over three years the fund has returned 22.5 per cent compared to the 10.9 per cent average of the IA Sterling High Yield fund, FE data shows.

Recommended

ABI is accused of failing to fight for the industry

The Association of British Insurers has been slammed by senior industry figures for failing to help improve the reputation of financial services among consumers. Tenet chief executive Simon Hudson told roadshow delegates that the ABI has been very weak in fighting the industry’s cause and he believes it is far too inter-ested in keeping its […]

It’s too soon to write Apple off

By Ali Unwin, Chief Technology Officer & Fund Manager at Neptune Earnings season is noisy in the technology sector and a good quarter does not make a good investment. Numbers that come in marginally ahead or behind ‘market expectations’ are extrapolated to produce narratives showing the rise or fall of companies. Our job as technology […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment