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Top of the class

Threadneedle Investments is making its UK corporate bond fund available to the IFA market by adding a retail share class to the existing institutional share class.

The fund aims to deliver income and capital growth by investing in investment-grade corporate bonds across a range of sectors. This makes it lower risk than some bond funds that use high-yielding junk bonds. However, the lower risks are matched by lower returns with a current yield of around 5.8 per cent.

Falling interest rates have made corporate bond funds look attractive to investors earning little interest on their building society accounts and to those concerned about the recent performance of stocks and shares.

This fund is pitched at the lower end of the risk spectrum because it concentrates on investment-grade bonds. However, when stockmarkets pick up this could lead to a fall in bond prices as some investors move from bonds back into stocks and shares.

According to Standard & Poor&#39s, the institutional share class of the UK corporate bond fund is ranked 31 out of 56 funds based on

£1,000 invested on a bid-to-bid basis with net income reinvested over three years to November 26, 2001.

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