It may really be a different era after all. Sentinel Funds has launched a new income-seeking equity fund. The Capital Markets Income Fund is subadvised by Evergreen Investment Management Company, which also subadvises the Sentinel High Yield Bond Fund for the Montpelier, Vermont-headquartered fund group.

The fund is launching at a time when both recent corporate scandals and President Bush's proposal elimination on taxes of dividends have highlighted the divide between capital gains and income.

The new fund will investment both in bonds and common stocks that pay a dividend. It will also invest in convertible and preferred securities of domestic and foreign companies.

"The ultimate goal of all investing is income," explained Joe Rob, chief executive officer of Sentinel Funds. "To the best of our knowledge, this is the first fund in what we expect will become a whole new category of income funds -- funds whose main objective is to find the best income opportunities for their shareholders, wherever and however they may exist.

Rob expects the fund to appeal to both investors seeking increased diversification and those who are retirement-aged and facing mandatory distributions from their retirement accounts.  

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