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
Outflows from an Australian private markets fund manager have caused FUM at Pacific Current to decline by $1 billion in the last quarter.
Former RIAA chief executive Simon O’Connor has joined the ethical advisory panel at U Ethical Investors.
Financial services leaders are “all cashed up with nowhere to grow” when it comes to M&A activity, according to Deloitte, with 90 per cent saying they have strong balance sheets ready for an acquisition.
As fund managers are urged to diversify their product ranges, they are finding a faster way to do this is via an acquisition of existing firms but experts say it is not without potential culture clashes.
