Henderson adds income product to Intrinsic range

Henderson is set to launch the fourth multi-manager product in its tie-up with IFA network Intrinsic, the Cirilium Strategic Income fund.

Run by Paul Craig, the Strategic Income fund is expected to be launched in early September and will be split equally between equities, bonds and alternatives.

The new fund, which will target a 5% annual yield, is the first product in the range to have an income focus, with the existing Cirilium Cautious, Moderate and Dynamic funds each aiming for capital growth at differing risk profiles.

“We have seen increasing demand from advisers for income-orientated products and this fund aims to provide this with lower volatility than mainstream multi-manager funds,” Henderson associate director Danny Knight says.

“Many traditional fund of funds will jump heavily between underlying products; we aim to put together a multi-asset product that can provide a smoother ride through the cycle.”

All three of Henderson’s existing Cirilium funds are top decile over one year to 12 July, with the Moderate product ranked number one in the IMA Balanced Managed sector over the period, according to Morningstar.

“We have seen strong demand from advisers into the products, with the range growing from just £24m in April last year to £351m currently,” Knight adds.

“There is no reason why we cannot aim to have more than £500m under management by the end of the year.”