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Schroders launches new corporate bond Pep

Schroder Unit Trusts Ltd is launching a corporate bond pep which it says has a projected annual return of 7 per cent gross.


It says the High Yield Bond Fund will invest 60 per cent of its credit in companies rated A and above and 40 per cent in companies rated at BBB.


The fund manager says it will only buy unrated bonds if it judges that the issuer would receive at least a BBB rating should it apply.


The fund is available at a fixed launch price of 50p per unit between January 25 and February 12 1999.

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