Managed by Antony Vallee, the closed-ended fund is targeting a minimum dividend yield of 4.5 per cent in the first year. Income will be paid half-yearly at first and then quarterly from the second year onwards.
- Offer for subscription launched on 17 May, closes 5 June
- Shares start trading on 11 June.
- Minimum investment: £1000
- Share price: initially 100p, net asset value per share at least 98p
- AMC: 0.75 per cent
David Penny, managing director of Taunton-based Invest Southwest, said: “Investors of all kinds are casting around for safe homes for their money, combined with any kind of return. This has a place – albeit quite small – in a sophisticated investor’s widely balanced portfolio.”