Launch of Guernsey-domciled floating rate fund

Initial proposals are that the fund will invest predominantly in senior secured loans and floating rate senior secured bonds issued by European corporates, with an aim to produce a quarterly dividend of 5.5% per annum in the first year of full investment. Further plans include a significant proportion of the portfolio to be sourced at a discount to par, thus allowing an opportunity for capital gains, and no leverage used to achieve returns. Subject to investor demand, sterling and euro currency share classes will be available at launch. The overall aim is to raise at least £150 milli...