ALTERNATIVE FUND ON OFFER FOR INVESTORS
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| Article date: 29/09/2005 : 14:23:17 |
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A new alternative bond fund has received approval fro the Financial Services Authority (FSA).
The Threadneedle Absolute Return Bond Fund will begin accepting investors from October 3rd at an initial price of 50p per share until October 21st.
The fund will have an annual management charge of 1.25 per cent on Class 1 net accumulation shares, whilst Class 2 net accumulation shares will attract an annual management charge of 0.65 per cent. The Inland Revenue have also confirmed the fund can be held in a stocks and shares ISA.
"As we have started talking to intermediaries about this new fund, I have been delighted with the reaction. Threadneedle already has a strong reputation for the size and strength of the bond team," said Guy Beech, head of wholesale and retail.
Investors will also be able to take advantage of a cash withdrawal facility which means they can automatically withdraw capital from the fund.
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