Halifax launches Managed Income Fund
27 July 2005
Source: HBOS press release
Halifax Financial Services this week launches the Managed Income Fund, further extending the range of investment funds available from Halifax with no initial or exit charges. Halifax was the first high street provider to introduce these 'Sandler-style' products in 2002.
The Managed Income Fund has no initial set-up or exit charges and requires a minimum investment of £3,000, which combined with the low annual management charge of between 0.5% and 1.25% of the value of the fund, puts it within many people's reach as a long-term investment product.
The Fund is aimed at investors looking for income from a range of different assets and looks to provide a growing income with potential for some capital growth over the long-term. It is available through the Personal Investment Plan and gives a quarterly income from a managed portfolio of equities, fixed interest investments and commercial property.
This combination of investment assets enables customers who want exposure to equities for growth but are uncomfortable with the volatility of the stock market to have some exposure to equities.
Along with the added stability that fixed interest and commercial property investments bring to a diversified fund, the asset mix also enables customers to enjoy the benefits of investing in commercial property. Unlike the majority of investments that involve property, customers face no delays in withdrawing their funds should they wish.
Ray Milne, Managing Director of Halifax Financial Services, said:
'Halifax Financial Services concentrates on offering simple, value for money products and the addition of the Managed Income Fund to our range gives our customers even more options.
'As property, equities and bonds do not react to market or economic conditions in the same way, the fund managers will actively manage the asset mix throughout the economic cycle to provide an attractive level of income. Coupled with long term growth potential in the underlying assets, this is a powerful new income alternative for our customers.'
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