Polar Capital, a London-listed fund manager, has launched a Ucits-compliant European income fund investing in mid- to large-cap pan-European stocks.
The Polar Capital European Income Fund, managed by Nick Davis and listed on the Irish Stock Exchange, is available in sterling, US dollars and euro share classes for institutional and retail investors. Minimum investments depend on the share class.
The fund seeks both income and capital growth and will target an overall yield of 10% above the MSCI Europe Daily Total Return Net Euro benchmark index.
David will pick approximately 30 to 50 stocks of companies above €1billion of capitalisation and no more than 20% of the net asset value of the fund will be in companies with market capitalisation below €3 billion.
Nick Davis, Polar Capital European Income Fund Manager says: “We believe that growing dividends, rather than high but flat dividend yields, are a compelling investment proposition for both retail and institutional investors…”
The fund has an annual management charge of 1.35% for the R, or retail, share class and 0.75% for the institutional share class with a 10% annual relative performance fee.
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