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Tilney Bestinvest launches new British Enhanced Income fund


Tilney Bestinvest has launched a new multi-asset UCITS OEIC fund, the IFSL Tilney Bestinvest British Enhanced Income (BEI) fund, which will have a fixed price offer period of 100p per share from 1 February to 12 February.

The BEI fund will be managed by Gareth Lewis, Chief Investment Officer.
Aimed principally at UK investors at, or nearing, retirement the BEI fund has the objective to maximise income whilst managing risk. The fund will have a 0.75 per cent annual management charge, and if investing through a platform there is a minimum investment of GBP500, along with monthly contributions. From a historic basis, it is projected that the fund will have a gross yield of around 4 per cent, built from underlying holdings.
One of the key features of the funds’ strategy is its UK focus. Around 80 per cent of the fund will be invested within the UK market with 20 per cent overseas. The fund is primarily targeted at UK based investors, so will reflect the fund’s aim of an income in Sterling, as well as reducing currency risk. It has a multi-cap exposure in order to catch the universe of income producing funds, with 50 per cent in equities, 34 per cent in fixed income and the remaining allocation in property, absolute return and cash.
The fund is initially expected to invest in around 18 holdings, mostly made up of active funds due to the income objective of the fund. The BEI fund will be available on SEI, Cofunds and Pershing from launch, with further platforms in the process of being added.
Gareth Lewis (pictured), Chief Investment Officer and manager of the funds, says: “It is clear that more and more people are driven by the income that their investments yield. This is partly due to people living longer and having to think of ways in order to fund their retirement. There has been a growing trend for this as the Equity Income Sector is one of the most popular sectors in the market, and indeed the largest proportion of our own Multi Asset Portfolios is within our Income and Income + Growth funds. As such we wanted to have a fund that appeals to those investors with these aims, and believe we have achieved this through the British Enhanced Income fund.”

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