Aegon to launch UK Equity Income fund

The UK Oeic will have an income target of 110% of the FTSE All-Share Index and will sit within the IMA UK Equity income sector. The fund will be seeded with £12m at launch and will invest in around 50-100 holdings from a number of asset classes which will be predominantly UK equities (at least 80%) although its mandate will allow for 20% investment in overseas equities and bonds. Those investments made into non-UK assets will not be hedged, but rather the currency risk will be a specific part of the investment decision. The managers will adopt a research-driven team approach with i...