Halifax Managed Income Fund launched

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Halifax Managed Income Fund launched

Wed 27th Jul 2005

Halifax have unveiled its Managed Income Fund Halifax Financial Services, available to customers later this week.

The bank has added the product to its list of Halifax investment funds, with the service benefiting from no initial or exit charges.

The Managed Income Fund is available on a minimum investment of £3,000 with a annual management charge of between 0.5 per cent and 1.25 per cent applicable.

Halifax have targeted the long-term investment market with the service, which is aimed at customers looking for income from a range of different assets.

The Fund is designed to provide a return on capital over the long-term, giving investors a quarterly income from a managed portfolio of equities, fixed interest investments and commercial property.

Ray Milne, managing director of Halifax financial services, said: "Halifax Financial Services concentrates on offering simple, value for money products and the addition of the Managed Income Fund to our range gives our customers even more options.

"As property, equities and bonds do not react to market or economic conditions in the same way, the fund managers will actively manage the asset mix throughout the economic cycle to provide an attractive level of income.

“Coupled with long term growth potential in the underlying assets, this is a powerful new income alternative for our customers."

Halifax have made The Managed Income Fund available through the Personal Investment Plan with lump sum payments of at least £250 able to be paid into accounts at any time.

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