Invesco Asset Management claims to have launched the first listed closed-end high-yield leveraged fund in the UK. Aimed at institutional investors only, the Jersey-domiciled fund with a London listing had initial assets of £70m (e108m) at launch mid-October, comprising 40% ordinary shares and 60% long term borrowings. The fund aims at a high ‘predominantly income return’ from UK, European and US multi-national corporate bonds. “It is the first pure European high yield fund to exploit leveraged financing for institutional fund markets”, says Invesco