Smith & Pinching to launch Income fund of funds

Discretionary manager Smith and Pinching is to launch an equity income fund of funds in the coming w...

Discretionary manager Smith and Pinching is to launch an equity income fund of funds in the coming weeks. To be managed by Tony Yousefian, Ross Henderson and Dorian Squires, the fund should launch in May subject to FSA authorisation. Seeded with approximately £5m from the equity income exposure in existing bespoke private client portfolios, it will be benchmarked against the FTSE All-Share and aim to yield 125% of the index. The running yield of the fund will be approximately 3.7%. It will have around 70% in traditional UK Equity Income funds, 10% in European and Far East income vehicles...