Aberdeen Asset Management has introduced a sterling short-dated corporate bond fund aimed at investors looking for a conservative means of allocating to fixed income.
The fund, dubbed Aberdeen Sterling Short Dated Corproate Bond Fund, aims to attract over £100m in the first year. It will invest in investment grade credit focusing on securities that mature within five years.
The fund will be managed by the group’s Pan-European fixed income team who also manage the £1.7bn Aberdeen Corporate Bond Fund.
Aberdeen head of Pan-European Credit Roger Webb said: “This fund offers the opportunity to limit exposure to rising yields in fixed income securities whilst still remaining exposed to short dated corporate bonds to provide a reasonable level of income in the current environment.”
The fund has a minimum investment of £500 and Ongoing Charges Figure (OCF) of 0.69% on its A share class and a minmum investment of £500,000 and OCF of 0.39% on its I share class, the company said.