Merill Sicav plc is about to introduce two new sub-funds – the Merill High Income Fund and the Merill Global Equity Income Fund.
The Merill High Income Fund aims to provide a high overall yield with the potential for capital growth. The fund may invest all its assets in rated and unrated fixed income securities located anywhere in the world and may invest up to 60 per cent of the assets in units of collective investment schemes and exchange traded funds. It may invest to a limited extent in equities and products which qualify as transferable securities, but which are packaged around a number of underlying securities from which they derive their value. The fund may invest in emerging markets although it will focus on developed markets.
On the other hand, the main aim of the Merill Global Equity Income Fund is to achieve capital growth and income from a diversified portfolio of investments. The sub-fund will invest primarily in equity of companies spread across the globe and up to 60 per cent of the assets under management could be invested in units of collective investment schemes and exchange traded funds.
Both funds will be priced and will trade daily
The Fund Manager has absolute discretion to decide the investment type, geographical area, economic sector or issuer of investments, subject to applicable restrictions. The fund may also invest, to a limited extent, in bonds and products which qualify as transferable securities.
These are packaged around a number of underlying securities, from which they derive their value. The Fund will distribute any income generated from the portfolio on a quarterly basis. However, it is important to keep in mind that this is subject to the discretion of the directors, who will decide whether to distribute such income or part of it. Any undistributed income will be reinvested back into the fund.
Both funds will be priced and will trade daily and are suitable as a medium to long term investment. Income will be paid on a quarterly basis. Investors can opt for a minimum lump sum investment of €2,500 or as a regular savings plan.
The new funds will also be self-managed by a team of professionals at Jesmond Mizzi Financial Advisors Ltd.
Jesmond Mizzi, a director of Merill Sicav plc, said: “The funds are aimed at those investors who want to spread their investments in a diversified portfolio of various underlying assets including global high yield, investment grade bonds, international and local shares.”