Schroders managing director of UK intermediary Robin Stoakley says the firm would like to launch at least one more income maximiser product next year.
Schroders is already planning to launch a global property income maximiser in February 2011. It has two onshore products, the UK and Asian income maximisers, and its offshore global dividend and European dividend maximisers.
The maximisers traditionally target a 7 per cent yield through higher-yielding stocks and a covered-call overlay. Schroders also has plans for a multi-manager product that would invest across the range of maximisers and deliver a 7 per cent yield and monthly income distribution.
Stoakley says: “We now have a good range of maximisers but we feel that there is still a space for at least one more, given there are still a couple of major markets that the existing range of products do not cover.”
Hargreaves Lansdown investment manager Ben Yearsley says: “The original UK maximiser has been a huge success in that it has taken in over £700m in five years and been one of the best performers in the UK equity income sector.”