Morley plans 6% yield on property and bond fund

Morley High Income Property fund, to be launched in March, will not be available as isa

Morley Fund Management is to launch a unit trust investing in a combination of direct property and fixed interest, giving an overall yield of 6%. The Morley High Income Property fund, to be unveiled in March, will be the highest-yielding authorised property unit trust on the market, the group believes. Alan Gadd, managing director at the group, said the portfolio will hold around 75% direct property, 20% fixed interest and 5% cash. The fixed interest component will be made up of property-related bonds and gilts. 'The combination of bonds and property should produce a higher y...