Heartwood adds income funds to multi-asset range

Heartwood Investment Management has launched two new global multi-asset income funds.

The new range, which will sit alongside the firm’s existing total return range, will consist of the Income Multi Asset and the Income Plus Multi Asset funds and will be part of the lA Unclassified sector.

Heartwood Investment Management recently moved its £2.4bn in funds to the Unclassified sector, with the firm saying there was a “lack of fit” with the previous Mixed Investment sectors.

The new funds will be manged by the same team that manages the multi-asset income strategies, led by Jaisal Pastakia.

The team expects initial yields to be 3.5 per cent and 3.9 per cent for the Income Multi Asset and Multi Asset Plus funds respectively. Ongoing charges for the funds are 0.75 per cent.

Noland Carter, head of Heartwood Investment Management, says: “We have been successfully managing income strategies for many years, and we are now enhancing our proposition to deliver higher sustainable levels of income in response to clients’ growing demand.

”We see this demand based on changing retirement patterns and new pension freedoms, and global multi-asset strategies are well placed to meet this need.”