JBWere targets retail investors
JBWere Investment Managementhas rolled out an Australian Equities Fund targeting retail investors with as little as $5000 to invest.
It is understood that the latest retail funds mirror JBWere’s existing Australian Equities wholesale fund, with both funds invested into the underlying pooled fund.
JBWere Investment Management head of retail Jim McKay says those who invest in the fund will have access to a diversified portfolio of Australian shares in a style neutral approach.
McKay says investors with as little as $5000, or $2000 in a JBWere savings plan, can invest in this fund, with a minimum additional investment of $200. The fund is also available as part of JBWere Investment Management’s nil entry fee selection. It has no exit fees.
He says the fund invests in industrial and resource companies, with the average turnover of the fund being 22 per cent per annum.
The retail funds are the next phase of product roll out for JBWere. Mid-way through last month, the investment group launched a selection of retail managed funds, which waives the initial fee for investors.
The funds, the JBWere Nil Entry Fee Selection waive the upfront fee for investors on three JBWere funds, with each fund having an ongoing management expense ratio (MER) for the life of the current prospectus of 2.3 per cent.
The new funds are versions of three JBWere Funds, the JBWere Diversified Growth Fund, formerly the Balanced Fund; the JBWere International fund; and the JBWere Australian equities fund, which won theMoney Management2001 Fund Manager of the Year award for Australian equities.
Recommended for you
Net cash flow on AMP’s platforms saw a substantial jump in the last quarter to $740 million, while its new digital advice offering boosted flows to superannuation and investment.
Insignia Financial has provided an update on the status of its private equity bidders as an initial six-week due diligence period comes to an end.
A judge has detailed how individuals lent as much as $1.1 million each to former financial adviser Anthony Del Vecchio, only learning when they contacted his employer that nothing had ever been invested.
Having rejected the possibility of an IPO, Mason Stevens’ CEO details why the wealth platform went down the PE route and how it intends to accelerate its growth ambitions in financial advice.
