Britannia High Income bond

By James Thorneley Britannia's High Income Bond fund launched this week will run a portfolio with around 60 stocks. The unit trust will initially have a split of 60% high yield and 40% investment grade. The target yield for the portfolio is between 150-200 basis points above that offered by Britannia Gilt & Fixed Interest fund. David Roberts, who will manage the High Income Bond fund, said that the current yield on the model portfolio was 8.8%, 180 basis points above Gilt & Fixed Interest fund. With the amount of debt coming to the market from telecom companies, the portfolio will have e...