M&G Investments is planning to boost its multi-asset range with the launch of a new income fund, Citywire Global can reveal.
The fund, announced as the M&G Income Allocation fund, is yet to be officially launched as it is awaiting regulatory approval but it is understood it will be registered for sale in a number of European countries over the next few months.
The aim of the multi-asset fund will be to achieve optimal income through a dynamic allocation strategy with between 30-35% of the portfolio expected to be invested in equities.
The upcoming launch was unveiled to an investor audience of Italian private bankers and financial advisors at the annual M&G Bond Vigilantes Day in Milan last week.
While M&G confirmed the launch to Citywire Global at the group’s Italian event, no further details on its investment strategy were currently available but it is believed the new fund will be a Ucits-compliant vehicle.
Over the past year to the end of September 2013 the M&G Episode Income Fund (registered for sale in Luxembourg and in the UK) has returned 2.74% versus 0.74% by its Citywire benchmark, the LCI UK Balanced (50:50), over the same period.