Hargreaves unveils MM High Income fund

Equity and bond fund mix

Hargreaves Lansdown is extending its multi-manager range with the launch of the Multi-Manager High Income fund, offering an estimated starting yield of 4.5%.

Run by multi-managers Lee Gardhouse (pictured) and Ellen Powley, the fund seeks to deliver a sustainable, high income distributed monthly, through investing in equity income and bond funds. Initially, the fund will have approximately 60% invested in shares and 40% in corporate bonds. Hargreaves said: "The aim is to offer the best of both worlds in a single fund - the benefits of potential capital and income growth from a selection of the best equity income funds, plus the prospect of higher long-term income and lower volatility from a selection of our favourite corporate bond fund man...