Bond move

BARCLAYS Unicorn, the unit trust arm of Barclays Bank, is the latest fund manager to launch a fund investing in European bonds. During the initial offer period, until 29 January, there is a 1 per cent discount. The initial charge is 3.5 per cent and the annual management fee 0.75 per cent. Minimum subscription is pounds 1,000 and estimated initial gross yield is 7 per cent.