Britannia Asset Management to launch corporate bond unit trust

Britannia Asset Management announced plans to launch a corporate bond unit trust. The Britannia High...

Britannia Asset Management announced plans to launch a corporate bond unit trust. The Britannia High Income Bond fund offered a yield of 1.5% over the group's existing Gilt & Fixed Interest fund, equivalent to 8%. Investment manager David Roberts was to invest in a mixture of investment and non-investment grade debt, with 80% of the portfolio made up of sterling-denominated debt. The initial charge was 4.25% and the annual management fee 1.25%.