Man GLG has decided to switch the dividends on its UK Income fund from biannually to a monthly basis following the introduction of the pension freedoms and investor demand for more regular access to income.
The change to the £250 million fund will come into effect from the end of October.
The Man GLG UK Income fund is managed by Citywire A-rated Henry Dixon, who has led the fund to return 36.6% over the last three years to August, beating the sector average over the same time period of 25%.
‘Investors have been seeking more regular income from their investments following the introduction of the pension freedoms and we have decided to convert the fund to monthly distribution in order to meet mounting client demand,’ and Richard Phillips, managing director of UK retail.
‘The fund has performed well under Henry, and we believe it offers a compelling option to investors seeking both an attractive yield as well as capital growth.’