Income Maximiser meeting yield targets

New lead manager on Schroders product confident it can meet 7% yield target for third consecutive year, with volatility throwing up opportunities

John Teahan is confident the Schroder Income Maximiser fund is on track to meet its 7% yield target for the third year running, despite the departure of launch manager Richard Lloyd. Teahan has taken over the reins of the derivative layer of the fund following Lloyd's exit in April. Income Maximiser is made up of stocks from the Schroder Income fund chosen by manager Nick Purves and Ian Lance. Purves said: "The equity portion of Income Maximiser provides about half of the overall yield so we run it with a very traditional income strategy focusing on higher-yielding shares. "We conce...