Harbour re-launches income fund
Harbour Asset Management is re-launching its income fund and targeting a a higher return as it diversifies its investments.
Harbour director and portfolio manager Mark Brown said the fund was initially set up in a simplified way, as a combination of Harbour’s Corporate Bond Fund and its Australasian Equity Income Fund.
But he said over time it had become clear that those were two distinct entities with their own purposes, and there was more that could be done with the Income Fund by broadening its scope and giving it a different investment mandate, in its own right.
In its new guise, the fund will also invest in securities that are not a natural fit with either the corporate bond or equity income funds. Harbour said it would expand into additional income-generating asset classes, allowing some allocation into well-researched non-investment grade corporate bonds and loan products.
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