Winterthur, a subsidiary of French insurance group AXA, has announced that it is to launch the Winterthur PSigma income fund, making it the first life office to offer such a product.

The new fund complements the existing range of funds available through the company’s tailored selection range of investment funds on both individual pension and life products.

The PSigma income fund aims to achieve a reasonable and rising income, together with long-term capital growth. It also uses a thematic approach with economic and market analysis and employs stockpicking skills with a wide range of internal and external inputs.

The fund has an annual management charge of 1.20% and fund expenses of 0.20%.

Bernard Henshall, head of investment distribution at Winterthur Life, commented: In addition to their excellent investment track record, we already have a good relationship with the PSigma team, making it a natural move for us to offer the Winterthur PSigma income fund. We are delighted to be one of the first life offices offering this fund and from the interest already generated, we are confident it will be well received.

Bill Mott, investment director for PSigma, said: We look forward to working with Winterthur and believe our investment knowledge combined with their pensions expertise enables us to provide an excellent investment offering to advisers. The addition of this fund to the Winterthur tailored selection range provides further manager diversification within the UK equity income sector.