Here are five non-UK (or globally oriented) income-focused investment trusts / funds which may be accessible to a UK investor and potentially suitable for a retirement portfolio (with appropriate due diligence). These differ from the purely UK-listed trusts I listed earlier; they bring exposure to other markets, sectors or closed-end structures. This is not personal financial advice. You must check availability, tax/treaty issues, domicile, yield sustainability, currency risk, and suitability for your circumstances.

1. HYT (BlackRock Corporate High Yield Fund – US closed-end fund)

  • This is a US-listed closed-end fund (CEF) whose recent data shows a distribution yield of ~9.8%. cefconnect.com
  • It invests in high-yield (below investment-grade) corporate bonds, giving higher yield but with credit risk, interest-rate risk and leverage risk (the CEF uses debt).
  • Why it could fit a retirement income portfolio: High yield means it can generate meaningful cash flow; adding fixed income / credit exposure is a useful diversification away from pure equity dividends.
  • Important caveats: Being US-domiciled means tax considerations for UK investor (withholding, US estate tax if you hold US equities, though in bonds less so) — check domicile & holding vehicle. Also, credit risk means higher chance of distribution cuts in stress.
  • If you pick it, it could serve as a “higher-income” component, but you’d likely balance it with more stable income sources.

2. ASGI (Abrdn Global Infrastructure Income Fund – US listed closed-end fund)

  • Listed in the “top-5 high-yield closed-funds” list: ASGI offers a yield of ~13.47% (per one 2025 commentary) and invests in infrastructure, public & private/direct, globally. AInvest
  • Why it might be appealing: Infrastructure tends to have relatively stable, long-term cash flows (toll roads, utilities, etc.), which fit an income mindset. The high yield is attractive for retirement income.
  • Key risks: High yield often reflects higher risk. The fund may borrow, invest in higher risk infrastructure assets, have private asset exposure (less liquid), and global infrastructure brings currency/regulation risk. Also tax/treaty implications for a UK investor need to be checked.
  • Use case: A portion of your income-portfolio could hold a global infrastructure income trust like this — but manage the size/weight given higher risk.

3. HTD (John Hancock Tax-Advantaged Dividend Income Fund – US CEF)

  • An example closed-end fund cited for “high yield from dividend equities” (yield ~6.7% in the example article) for US common & preferred stocks. InvestorPlace
  • Why consider: Diversifies into US equities with an income tilt (and some preferred securities) — for a UK investor this adds geographic and asset-type diversification compared to UK equity income trusts.
  • Risks: US equity risk, dividend sustainability risk, currency risk (USD/GBP), and UK investors must consider foreign tax credit / withholding. Also, some CEFs pay part of their distributions out of NAV (return of capital) which can degrade principal over time — you must check the fund’s distribution policy.

4. SYI (SPDR MSCI Australia Select High Dividend Yield ETF)

  • An Australian listed fund (ASX ticker “SYI”) focusing on high dividend-yielding Australian companies. For instance, its factsheet shows a dividend yield ~4.3% for the index underlying the fund. SSGA+1
  • Why include: Provides Australian dividend exposure (which can bring franking credits for Australian tax residents; for UK investors the franking credits may not apply, but still geographic diversification is useful).
  • Use in retirement income portfolio: Consider as a “non-UK / Australia dividend exposure” piece.
  • Risks: Yield is moderate, not exceptional; Australian equities will bring local economic and currency risk; you must check accessibility (UK investor can buy via UK-broker that offers ASX or via ADR/equivalent) and tax issues (dividends, franking credits, exchange rate).
  • Note: The yield is lower than some high-yield US CEFs, but provides diversification.

5. HVST (BetaShares Australian Dividend Harvester ETF)

  • Another Australian vehicle: it targets high-dividend paying Australian shares and shows a 12-month gross distribution yield ~7.2% including franking credits in its factsheet. Betashares
  • Why it may appeal: Higher yield than the more “moderate” yield Australian fund above; again provides geographical diversification and income.
  • Risk factors: The strategy might have additional complexity (e.g., harvesting, high dividend payers which might have higher business risk or lower growth, currency risk for UK investor). Also franking credits may not benefit UK investor.
  • How to use: As a “higher yield / alternative market” piece in retirement income portfolio, but you’d balance with more stable yield trusts.

🧭 How to integrate these into a retirement income portfolio

Given you already have UK-based equity income trusts (from earlier list), these additional vehicles can help broaden exposure. Here’s how you might structure a model approach:

TierRoleExample vehicle(s)
Core Income (Stable, moderate yield, strong track record)Larger weight, foundation of incomeUK equity income trusts from earlier list (e.g., UK high-quality dividend trusts)
Diversified Global IncomeModerate weight, helps broaden geographySYI (Australia), global equity income trusts (from earlier list)
Higher Yield/Alternative IncomeSmaller weight, for extra yield but higher riskHYT, ASGI, HVST — non-UK, higher yield but higher risk
Risk Buffer/Quality Over YieldPossibly lower yield but more stabilityInfrastructure, investment-grade credit, dividend-growth focused trusts

Example allocation (illustrative only):

  • 40% UK equity income trusts (stable base)
  • 25% Global equity income (developed markets)
  • 20% Alternate income (higher yield trusts like HYT / ASGI)
  • 15% Geographic/sector diversification (Australia via SYI/HVST)

By doing this you get:

  • Diversification across geographies & asset-types
  • A tiered risk/yield approach (not putting your entire income on high-risk high-yield)
  • Exposure to higher yield but controlled via smaller allocation
  • The ability to rebalance over time (if yields change, discounts/premiums change, etc)

⚠️ Key considerations and risks (especially for UK investor)

  • Domicile / tax: Many of the non-UK vehicles may be US- or Australia-domiciled. UK investor issues: withholding tax on dividends, inability to reclaim certain foreign taxes, potential extra tax filing, currency risk.
  • Currency risk: Income and capital movement for US/Australia denominated funds will be affected by USD/GBP or AUD/GBP exchange-rates.
  • Dividend sustainability: High yields are tempting but need underlying business or asset-base to support them long-term. Especially for closed-end funds carrying debt or with high payout ratios.
  • Discount/premium to NAV (for CEFs): Closed-end funds often trade at a discount or premium to net asset value. That influences risk/return.
  • Liquidity and accessibility: Some Australian trusts/ETFs may be harder to access via UK broker, or cost more (FX, brokerage).
  • Tax treatment of franking credits (Australia): As a UK investor you likely won’t benefit fully from Australian franking credits; thus the “gross yield” including franking credits may over-state your net yield.
  • Higher risk = smaller slice: When adding higher-yield/trusts with more risk, keep those as smaller allocations so your retirement income base remains robust.
  • Rebalancing & capital drawdown: In retirement you may need to draw capital (not just reinvest). High‐yield trusts may see capital volatility—so plan for drawdown strategy, preserve some capital vs. pure income chasing.

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