UGIFUnited Growth Income Fund
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Structured as an aggressive income fund, UGIF has the flexibility to assume high level of credit risk to capitalize on potential upside and is suited for investors with a long term investment horizon, said a press release here on Monday.
As an aggressive income fund, UGIF can invest in instruments with maturities of up to 10 years, investment guidelines dictate maximum weighted average maturity (WAM) of 5 years (excluding sovereign instruments) and maximum duration of 2.5 years Actual WAM of the fund has remained compliant with the guideline.
Within the TFCs portfolio carried by UGIF, a sizeable amount of investments can be characterized as high credit risk.
The 12-month rolling yield generated by UGIF has however consistently remained positive.
Soon afterwards, however, it became clear to the OSE that "the immunity conferred by the UGIF card" had evaporated.
United Growth and Income Fund (UGIF) is a mutual fund investment scheme that provides clients an opportunity to gain exposure to TCF (Term Finance Certificates) and advantage from the long-term progress potential that such investment instruments have to offer.