The launch of the Miton Global Diversified Income Fund is anticipated by the start of the second half of this year. It has a true multi-asset approach and will invest across closed-ended and open-ended funds on a global basis.
The asset allocation at launch is expected to be mainly in equities (31%) and bonds (37%), with 10% in each of infrastructure and property, and 6% in both convertibles and cash. These will be invested across a concentrated portfolio of up to 35 stocks.
The fund will sit in the IMA’s Mixed Investment 40% to 85% Shares sector.
It will target a yield of 4% to provide sustainable income. Reassuringly, a press release announcing the launch added: “The fund’s objective is to achieve a positive return.”
