[Patamuta]

Chris, let me be less controversial. It sounds to me like you'd be buying units in a fund (or fund of funds) of non-investment grade corporate bonds, but happy to hear the views of the guys who work specifically in banking or investment (I've been out for about 5 years). There is significant downside risk in a fund of this type and it'll be relatively illiquid and I wouldn't have thought a guy with a young family would want to take those kinds off risks or have lack of access to funds.

I'm not on the forum in the day time any more so see what other advice or comments you get but feel free to drop me a PM to chat about lower risk ways of holding liquid assets (hence my offset mortgage question). It won't be advice, just a few ideas about different ways of thinking. I'll just add that rule one for me is that you pay someone to be independent; if they're not charging you up front, they're not telling you what you need to hear, and that seems to be the case here.

EDIT: Have been reading this on my phone so missed a couple of details. A 5% nominal return just for investing? Either you've got mixed up over the details or you need to steer well clear. I thought it said 5 euros, not 55 euros!