Copia’s new investment manager launches equity income fund
Veritum Asset Management, in partnership with Copia Investment Partners, has launched the Veritum Equity Income Fund aimed at retirees.
Veritum, which would be led by Jason Teh who joined from Investors Mutual Limited (IML), said the fund would be the first triple-objective fund in Australia, targeting more income, less risk and greater returns and would hold around 25 stocks covered by four people.
The fund’s objective would be to deliver regular income while growing capital in a risk-controlled way “so investors may have more for longer”.
“I think many people have realised that in the decumulation phase you need a multi-facet approach to actually provide stronger solutions for retirees,” Teh said.
The product was designed for wealth preservation and would be suitable for investors seeking lower-risk equity returns, investors seeking higher returns, pre-retirees and retirees as well as endowment funds such as universities, schools, churches and charities.
As far as the target for funds under management (FUM) was concerned, Teh said that $5 billion “is probably a good number for this strategy”.
Copia’s general manager, distribution, John Clothier, added: “For us aligning ourselves with someone of similar values and ethics is very, very important for us”.
“The type of strategy that they are launching to the market is also very complementary with the other managers that we have in our stable.”
According to Copia, which would be responsible for fund’s distribution, this would be a mainstream product sitting broadly in mainstream retail space.
“Copia has a full retail distribution business so we will be taking it to all the platforms and all of the dealer groups,” Clothier said.
Veritum’s investment team would be joined by three equity analysts: Sam Dyson, Daniel Mueller and Trent Crawley.
AUTHOR
Oksana Patron
Recommended for you
The Reserve Bank of Australia's latest interest rate announcement has left punters disheartened on Melbourne Cup Day.
Equity Trustees has been selected as the responsible entity for two new funds, one from Coller Capital focused on private equity and a second investing in fixed income from FIIG Securities.
Funds managers are being urged by financial advisers to improve their “outdated” education and communication about alternative funds as they actively target them towards retail clients.
GAM Investments has appointed Eric Finnell as its managing director for Australia after his predecessor left to take up the CEO role at Global X.
