Managers looking to shares for yield

Harbour's Australasian Equity Income Fund invests mainly in New Zealand and Australian listed securities in order to generate attractive dividend yields.

Its announcement follows soon after boutique fund manager Pie Funds launched its own fund targeting New Zealand and Australian companies with attractive dividend payouts.

Harbour's managing director Andrew Bascand said, "Many investors, in the pursuit of real sustainable income, are re-considering their approach to income generation within their personal investment portfolios.

"Traditionally cash and fixed income investments have provided strong income returns for investors.