Corazon Capital Launches Managed Income Service

Rachel Walsh

18 March 2009

Corazon Capital, the Channel Islands and Geneva-based investment manager, now offers a managed income service for investors who hold cash but are concerned about very low returns. The company aims to provide clients with returns of around 4 per cent per annum in excess of cash returns after fees.

"Over recent months we have spoken to a number of people who are frustrated. They have retreated to the relative safety of cash but given the prevailing interest rate environment, are concerned about making a real return," said Joseph Paul, director of Corazon Capital, in a statement.

The firm said it is aware of the need to minimise risks when taking investment exposure so the service will only allocate to investment grade corporate bonds, with a target portfolio average rating of A-. Corazon will select 20 to 25 issuers across a range of industries, sectors and geographical regions, with a bias away from financial service issuers and towards established names with solid businesses, thereby reducing credit and default risk.

The minimum investment amount for the service is £300,000, $400,000 or €300,000 with a maximum fee of 0.5 per cent per annum.

Corazon Capital has $1 billion in assets under management.