Have a look at public sector infrastructure funds, such as Primary Health Properties (EPIC code: PHP) or HSBC Infrastructure (HICL). Newish business models, short records, but they promise relatively safe, utility-like income streams (current yields around 5.5% after basic rate tax) and with a decent covenant, since the Government is landlord. They aim to grow income gradually.

With HMG anxious to take commitments off balance sheet, there should be more of these in the pipeline.

A flavour of how they operate is in PHP's recent interim report:

http://www.investegate.c...x?id=201008190700163021R