Premier Miton launches bond funds for ex-Merian team
Strategic bond and financials debt funds
Premier Miton Investors has launched a pair of bond funds for its new fixed income team led by Lloyd Harris.
Harris will run the Premier Miton Strategic Monthly Income Bond fund alongside Simon Prior, and the Premier Miton Financials Capital Securities fund alongside Rob James.
The two funds, which launched on Monday (14 September), will be similar to funds previously run by the trio while they were at Merian Global Investors, the firm said.
Premier Miton said the mandates will "further expand and diversify" its fixed income fund range.
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Harris said: "In an environment where the search for income continues, we are delighted to be launching these two new, distinctive, income generating funds.
"The Premier Miton Strategic Monthly Income Bond Fund allows the investment team to use their proven experience to offer an actively managed portfolio of different types of bonds.
"The Premier Miton Financials Capital Securities Fund will give professional investors access to a specialist source of income through an actively managed portfolio of debt securities, issued by carefully chosen financial institutions."
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The strategic bond fund, which has an ongoing charges figure (OCF) of 0.45%, will invest in a diversified portfolio of bonds across the range of the credit spectrum. Premier Miton said the core of the fund would be investment grade corporate bonds, but it will also invest in government bonds and sub-investment grade bonds in order to provide an attractive yield and the opportunity for capital growth.
The fund will be housed in the Investment Association's (IA) Sterling Strategic Bond sector.
The financials capital securities fund will buy a range of capital securities issued by financial institutions globally. The fund will only be available for professional investors and sit within the IA Specialist sector. The OCF will be 0.8%.
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