Kames Capital has renamed its diversified income fund to reflect feedback from the market.
From 1 June 2016 the Kames Diversified Income Fund will be called the Kames Diversified Monthly Income Fund. There will be no change in the fund’s strategy and it will continue to be managed by Vincent McEntegart from Kames’ multi-asset team.
The move to rename the fund follows feedback from the market to clearly highlight the fund’s monthly income distributions as a key feature of the product.
The £305m1 Kames Diversified Monthly Income Fund aims to provide income and capital growth by investing in a multi-asset portfolio of yield-generating investments. It targets a yield of 5% (from income only) and a total return of 7-8% over the medium term. It is fully diversified, investing in investment grade and high yield bonds, UK and global equities, listed property and specialist income.
Commenting on the name change, Kames Capital’s director of wholesale Steve Kenny said: “Achieving a regular and sustainable income is a key requirement of many investors in the low interest rate environment. The Kames Diversified Monthly Income Fund aims to do this by investing across a range of asset classes, utilising our robust and proven asset allocation process. Indeed the success of the fund can be witnessed in its historic yield of 5.61%2.”
There will be no change to the name of the Dublin-domiciled Kames Global Diversified Income Fund which launched in April 2016.
1Source: Kames Capital as at 30 April 2016