The firm said this was to meet the “growing demand for funds that pay out their income at a time when interest rates stand at all-time lows”.
The Oyster European Corporate Bond and Oyster Global High Yield funds will now have a ‘D’ share class added to distribute income, while their accumulative share classes will remain unchanged.
The Global High Yield Fund was launched in November 2011 and is managed by Seix Investment Advisors based in the US. It will pay income out once a month.
Meanwhile, the Oyster European Corporate Bond Fund was launched in 2003 has first quartile performance year-to-date and over one year and five years. Income from this fund will be paid out once a year.
Syz & Co plans to introduce income distribution classes to its other Oyster funds in due course.