Wealth manager Charles Stanley has changed the name of the FP Matterley Regular High Income Fund to the MI Charles Stanley Monthly High Income Fund, and switched income distributions from a quarterly to monthly basis.
The fund has also undergone a change of authorised corporate director (ACD) from Fund Partners to Maitland Institutional Services. This ACD change brings the fund, which was first launched in March 2006, in line with the MI Charles Stanley Multi-Asset fund range.
Chris Ainscough, co-fund manager, says: “Changing the frequency of income distribution from a quarterly to monthly basis gives clients the opportunity to benefit from monthly interest payments into their accounts, something we know many investors are interested in having. We have also phased out the Matterley brand, though the investment philosophy of the fund remains unchanged.”
The fund currently has GBP68.4 million AUM and a gross annual yield of 4.3%. Managed by Chris Ainscough and Jeremy Spain, the fund’s investment ethos is focused on providing a high, sustainable income with the potential for capital growth.