Enhanced Income launch offers returns with covered call options

Michael Clark's latest Fidelity offering aims to mirror his existing Income Plus vehicle

Fidelity's Enhanced Income fund, run by Michael Clark, has been live for just a week. The fund aims to offer between double the FTSE All-Share and half its value again by mirroring the group's existing Income Plus fund, and adding returns with covered call options. Michael Clark, who runs both vehicles, is an ex-JPMorgan equity analyst who joined the company in October 2007. He previously held a similar position at Enskilda and Morgan Grenfell. Clark took over running Income Plus in July 2008. Since then its performance has been down 12.11%, compared to an IMA UK Equity Income secto...