Schroders' UK Income Maximiser call overwriting fund has reached another high now claiming £729.9m under management, up from its previous high of £625.3m recorded in July.
Thomas See, Schroders' head of structured fund management and manager of the fund, said last week that it is on track to deliver its target yield of 7% for a fifth consecutive year although the year remains challenging with the underlying strategy forecast to meet a yield of 3.2%.
"The fund managers will be looking to supplement with 1% for every quarter to make it up to the 7%," he said.
The fund, which had a unit price of £65.19 in October, has this year provided (to end of September) a positive performance of 9.5% versus 7.9% for the IMA UK Equity Income fund, and 3.8% for the FTSE-350 index.
The UK Income Maximiser is based on a portfolio of 40 high-yielding stocks with the most weighted sectors being financial services (32.3%), health care (16.8%), consumer services (15.4%) and telecommunications (10.9%). Since its launch it has been ranked in the top quartile in all periods and is currently ranked 6/79 out of the top-performing funds, said See.
Schroders' UK Income Maximiser has a minimum investment of £1,000.
This product appears on the UK database.