SYZ Asset Management is to launch the Oyster Continental European Income fund, to be managed by Michael Clements.
The fund will invest in stocks listed on European markets, outside of the UK.
The fund will pursue a similar strategy to that of SYZ's Oyster Continental European Selection fund, which adopts a bottom up stock picking approach.
Mr Clements said: "Across our European high-alpha range, we focus on top-quality companies that have long-term competitive advantages, but where valuation may be reflecting short-term pressures, or negative sentiment towards the company or the sector in which the company operates.
"The new strategy now also allows income investors to harness our time-tested approach and gain access to underinvested areas."
Mr Clements said: "Most European income funds focus on traditional high-yielding sectors, such as utilities and telecoms.
"However, we have a different perspective, which often leads us to contrarian positions in less obvious areas.
"This fundamental long-term approach aims to deliver a consistent stream of yield, but also an attractive diversification element compared to existing income funds."
Darius McDermott, managing director at Chelsea Financial Services, said he is a fan of this fund.
He said: "The main guy on the European team is Michael Clements, who had a very strong pan European track record at Franklins.
"He has done a good job here too. A good manager with a good team."
david.thorpe@ft.com
