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Tax break deals on Govett offshore corporate bond fund

Govett Investments has set up a new offshore corporate bond fund offering

income tax breaks for UK basic and higher-rate taxpayers.

The Govett corporate monthly income fund was launched on Monday and has a

target pre-tax yield of 7.4 per cent a year.

The Dublin-based fund will invest predominantly in investment-grade

corporate bonds, with up to 20 per cent of the portfolio in

lower-grade bonds.

The minimum investment limit is £1,000 or £50 a month.

The fund is also available in a Govett Isa with a minimum investment of

£500.

The initial charge is 3.5 per cent, with an annual management fee of 1.25

per cent, which will be charged to capital. Comm-ission is 3 per cent

initial and 0.5 per cent trail.

Sales and marketing dir-ector Graeme Sinclair says: “There is considerable

pressure for IFAs to identify income opportunities outside the withprofits

investment bond market. Govett&#39s proposition is compelling. We have

adop-ted a sound process which provides higher yield while controlling

risk. The fund also features a real tax break incentive for basicand

higher-rate taxpayers, which is hard to ignore.”

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