Capita brings out Oeic with rising income

Capita this week launches an Oeic fund with a rising income that combines the expertise of Isis"s Ja...

Capita this week launches an Oeic fund with a rising income that combines the expertise of Isis"s James Foster, Cazenove"s Tim Russell and Lazard"s Tony Willis. The fund will have an annual management charge of 1.5% and TER of 1.65%, and is intended as an alternative to with-profits. Within an Isa wrapper, the Capita Rising Income fund starts with an income of 5% per year and is expected to increase by about 3% each year. Unwrapped, the fund has a starting yield of 4.15%, also rising by 3% annually. Sway"s founder, Jon Maguire, who has developed Capita Rising Income, said the stock m...