Want income? Neptune Investment Management hopes to attract income-hungry investors through the rollout of a new share class on an existing UK fund.

Neptune Investment Management, the UK firm, has launched a distributing share class on its UK Mid Cap Fund so that investors who want income can benefit although the fund remains primarily focused on capital growth.

To create as large a distribution stream as possible, fees for the new income share class will be deducted from capital growth. For investors wishing to retain a focus on capital growth, the existing accumulation share classes will remain unchanged, Neptune said in a statement.

“Whilst the objective of the UK Mid Cap Fund is not specifically to generate an income, many of the companies that we invest in produce healthy yields – a welcome side effect of the quality businesses that we seek to invest in,” Mark Martin, fund manager, said.

Launched in December 2008, the Neptune UK Mid Cap Fund has returned 300.75 per cent versus a FTSE 250 Index gain of 226.77 per cent.

A new income share class will also be available on the multi-cap Neptune UK Opportunities Fund.