Fixed Income  

Rudolf Wolff to launch Ucits version of its Income fund

Asset manager Rudolf Wolff is planning to launch a Ucits version of its Bermuda-domiciled Income fund.

The new fund will be domiciled in Ireland and will be run by Bruce Macdonald, who manages the current Ucis version of the Rudolf Wolff Income fund.

The fund will target a gross yield of between 5 and 7 per cent by investing in a range of fixed income stocks primarily from financial institutions, including permanent interest bearing securities (Pibs) issued by building societies such as Nationwide and Skipton.

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Rudolf Wolff is currently raising money for the fund and hopes to launch it in November, targeting wealth managers and family offices as its key investors.

The fund will be available to UK investors in a sterling share class with a minimum investment of £5,000 and a clean fee annual management charge of 1 per cent.

The fund is the first in a series of launch plans for the firm, which formed in 2008, with a futures high frequency trading strategy fund and a global long/short equity fund in the pipeline.