Portfolio Partners looks local for yields
Portfolio Partners is to incorporate locally sourced hybrid fixed interest products in its Premier Fixed Interest trust launched today.
Portfolio Partners is to incorporate locally sourced hybrid fixed interest products in its Premier Fixed Interest trust launched today.
The Norwich Union subsidiary will use instruments such as converting preference shares to make up about 20 per cent of the fund.
Client relations manager Gregor Rennie says Portfolio Partners decided against going down the route of using offshore fixed interest as the high yielding compo-nent of the fund, arguing local instruments offered similar performance and re-duced risk.
Rennie says the funds will initially be aimed at master trusts and superannuation funds but may be offered to retail investors when it has two year performance numbers on the board.
The fund already has already been operating for about five months as management for a single $20 million mandate. It aims to add one per cent to benchgmark per-formance and has a minimum investment of $100,000.
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