Alliance Trust set to launch bond fund

ALLIANCE Trust Asset Management, the Dundee-based fund manager, is poised to enter the fixed income market with the launch of its first bond fund.

The Alliance Trust Monthly Income Bond fund will launch on 15 June.

It will invest in a diversified portfolio of predominantly UK, high-quality corporate bonds.

At launch, it is expected to generate a yield of 6.3 per cent a year, payable on a monthly basis.

Alliance Trust's Gareth Quantrill and Stuart Steven will co-manage the fund.