UBS Global Asset Management has come up with the UK version of its Global Enhanced Equity Income fund, OEIC.
OEIC will offer investors access to the Luxembourg-based Global Equity Income fund through a master-feeder structure.
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The fund will be managed by Patrick Zimmermann, lead manager, along with Richard Llyod, who is the global head of structured solutions of UBS.
According to UBS, the fund is a "global equity portfolio with defensive, high quality and high income characteristics," and will look to generate income from dividends as well as written call options on each stock within the portfolio.
Zimmermann says: "While many investors are keen to generate enhanced levels of income in a persistently low interest rate environment, they may also consider ways of reducing relative downside risk due to the strength of many equity markets.
"This fund offers a solution to address both these requirements and we would expect it to form a core holding for those seeking the dual objectives of an above average income with a degree of reduced drawdown in comparison to broad-based equity markets."
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By GlobalDataAvailable on all key retail platforms, the fund will sit within the IMA Global Equity Income Sector, and is projected to have an indicative equity yield of 7.2% at launch.
