First State sets corporate bond yield at 5.66%

First State Investments has finalised the income yield for the re-launch of its corporate bond fund ...

First State Investments has finalised the income yield for the re-launch of its corporate bond fund at 5.66%. The restructured fund, as first reported in Investment Week in November last year, is managed by Malcolm White and will achieve this yield through investment almost entirely in BBB and above investment grade debt. While the fund will always have a minimum of 80% invested in sterling-denominated credits, there is the flexibility for White to also invest in the global corporate debt market. Richard Adams, director of UK retail at First State, said in an asset class where small a...