Deutsche gears up ahead of new year unveiling
Deutsche Asset Management will target the do-it-yourself (DIY) superannuation fund market next year along with individuals nearing or in retirement by launching a suite of absolute return and income generating products.
“There’s a huge market out there in the DIY superannuation with a bunch of people at the at-retiree or post-retiree stage that are thinking about income and growth rather than growth and income,” Deutsche head of retail Alan Miller said.
Miller added that since taking over as head of retail earlier this year from Bruce Murphy, who departed to join Macquarie Funds Management, he and his team had been attempting to clearly understand the mindset of customers.
“It has become obvious in the industry that some client benchmarks have moved to cash. What we’re wanting to do [therefore] is to grow our business with products that are going to meet these changing demands of clients - and I think having a cash benchmark in some of those products will be sensible,” Miller said.
According to Miler while there is a need to have benchmark aware products, he said the group needed products that would offer investors an absolute return core focus too.
Without giving specific detail of what the market can therefore expect from Deutsche next year, Miller said there was “certainly a need for products offering yield with growth rather than focusing on growth and then some yield”.
Ahead of next year’s product launches, the group has bolstered its team with the announcement of two senior appointments today.
Former ING retail strategy manager Simon Wills has joined as platform and research relationship manager with a mandate to service researchers in the platform and retail space.
The other appointment is that of former IOOF key account manager Emma Thackray, who joins as a business development manager and will be based in Melbourne and have responsibility for Victoria, Tasmania and South Australia.
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