Tilney CIO to head income fund for retirees
Tilney Bestinvest has launched a multi-asset Ucits fund to be run by CIO Gareth Lewis.
The IFSL Tilney Bestinvest British Enhanced Income fund is aimed at UK investors who are at or nearing retirement, making risk management and income maximisation integral to its strategy.
Levying a 0.75% annual management charge, the strategy will initially consist of 18 holdings with 80% of its capital committed within the UK. These 18 holdings will be mostly composed of active funds.
Since Lewis intends to pursue a multi-cap exposure, the fund will include mostly equities and fixed income funds, with the remainder in property, absolute return and cash. It will target a gross yield of 4%, with a fixed price offer of £1 per share until 12 February.
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