GGOF Guardian Group of Funds has launched a new U.S. fund for investors seeking regular tax-advantaged U.S. income.

GGOF U.S. Diversified Monthly Income Fund is modelled on its GGOF Diversified Monthly Income Fund and is designed to provide investors with regular tax-advantaged distributions of US2.25¢ per unit per month.

The fund is composed of five U.S. asset classes, including Ginnie Maes, preferred shares, high yield bonds, real estate investments trusts, and dividend-paying common shares.

“We have had a great deal of interest from advisors for a fund that provides regular U.S. dollar income, moderate volatility and some potential for capital appreciation for their clients,” John Boeckh, GGOF’s senior vice president of marketing, said in a release.

GGOF portfolio advisor Lazard Asset Management will manage the Ginnie Maes, a form of mortgage-backed security representing ownership in a diversified package of mortgages. Lazard will also manage high yield bonds and dividend-paying common shares. GGOF Investment Management, with input from U.S. REIT consultant Towerhouse Capital Management, will manage the preferred shares and REITs.