New Star has launched the New Star Cautious Portfolio Unit Trust, a new fund of funds which has the potential for capital growth and income from a portfolio composed primarily of equity and bond funds.
New Star lists the key highlights of the fund as:
- A risk-controlled and diverse portfolio. Diversity is delivered both through asset allocation – initially with approximately 48% equities, 43% bonds and cash with the balance in specialist investments – and from the numerous stocks held by the underlying funds. The fund will be in the IMA Cautious Managed sector.
- Income from the fund is estimated at launch to be 3.5% per year. Please note the yield is net of charges and net of tax for basic rate taxpayers, may vary and is not guaranteed.
- The fund will typically invest in approximately 20 individual holdings carefully selected by our fund of funds team who specialise in creating portfolios compromising funds managed by some of the finest managers in the investment industry.
- Managed by Mark Harris, head of New Star’s fund of funds team, and Craig Heron.
- 1% discount* on the full 5% initial charge for all lump sum investments received before 4pm on 28 October 2005.