NZ manager launches diversified income fund in Australia
New Zealand-based specialist investment firm Milford has announced the launch of its new Diversified Income fund in Australia which will be based on the firm’s largest multi-asset income fund, the Diversified Income fund in New Zealand.
The Australian version of the fund would provide investors with regular monthly income, 12-month visibility over the expected yield and a neutral allocation of 60% income assets and 40% growth assets.
Also, the firm said the fund would be looking to allocate assets across a diverse range of asset classes and geographies to help minimise the effects of the market volatility.
“In this low interest rate world, Australian investors – particularly those approaching or in retirement, now more than ever need access to are reliable income stream. However, they also need that income to be able to grow as their cost of living increases, as it often does above the rate of inflation,” Milford’s chief investment officer, Wayne Gentle, said.
“The Milford Diversified Income fund aims to deliver this reliable, monthly income while also providing capital growth, a rarity among multi-asset funds in Australia.”
The fund would be available to financial advisers via a range of platforms, the firm said.
AUTHOR
Oksana Patron
Recommended for you
Milford is to launch three funds following consultation with financial advisers while closing two other strategies which hold a small volume of assets.
A founding member of fund manager IML is to depart the firm later this year after 27 years.
Magellan Financial Group reported outflows of $0.5 billion in February but saw a slight increase in its infrastructure division despite the exit of head Gerald Stack.
The global investment manager has unveiled two new diversified ETFs on the ASX targeting the next generation of Australian investors.
