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UBS Asset Management, part of UBS has launched a new income fund targeting income and capital growth.
The UBS Global Diversified Income Fund targets a 4.5 per cent annual yield (not guaranteed). It will employ an income smoothing mechanism, aiming to provide a predictable monthly pence per unit income over eleven months, with any remainder distributed in the twelfth month of the fund’s accounting year.
Domiciled in the UK as an open-ended investment company, the underlying strategy of the fund is based on the UBS (Lux) Key Selection SICAV - Global Multi Income Fund. The portfolio is globally diversified across asset classes, tapping into different sources of income while mitigating risks. This includes equity, fixed income, real estate and other diversifying income assets, such as insurance-linked securities, infrastructure and bank loans.
The fund will be managed by Philip Brides and Matt Bance, part of the wider Investment Solutions team which manages $118 billion in assets across multi asset and solutions mandates for clients globally.