Schroders' call overwriting fund, UK Income Maximiser has reached another peak in assets under management claiming £817.7m as of the end of February.
The fund achieved a monthly return of 1.8% to the end of February, which for the first time was below the 2% delivered by the IMA UK Equity Income sector and the 2.4% achieved by the FTSE All Share Total Return.
Overall, however, the firm says that performance since inception favours the UK Maximiser, which has met its target yield of 7% for the last six years, and delivered 39.6% in total, slightly above the 36.4% for the benchmark.
The latest UK Income Maximiser's sector breakdown update is comprised by financial services (34.7%), health care (18.5%), consumer services (16.5%) and telecommunications (12.6%) with below 10% weightings for other sectors such as oil & gas (7.5%), industrials (5%), technology (4.2%) and consumer goods (2.8%).
As previously reported, Schroders launched last February a property version of the UK Income Maximiser, the Schroder Global Property Income Maximiser Fund, and is considering the launch of two new Income Maximiser funds linked to the US and European markets.
Schroders' UK Income Maximiser is an open-ended product with a minimum investment of £1,000.
This product appears on the UK database.