OFM puts friendly society bonds back on agenda
OFM Investment Group will be launching a new range of friendly society bonds usingvan Eyk’s Blueprint Funds.
The funds will be offered as a high-growth fund, balanced fund and an Australian share fund with van Eyk Research acting as the investment adviser andMacquarie Investment Managementas the responsible entity.
Van Eyk Research will also advise on strategic and tactical asset allocation as well as fund manager selection and currency hedging with OFM handling distribution to advisers and clients.
OFM national business development manager Gordon Thirlwall says funds will be available by the start of the new year at the latest and joins the group’s recently launched property trust.
The trust consists of office and commercial properties in Melbourne with leases from seven to 10 years, providing the trust with an average yield of 8.27 per cent over five years.
Thirlwall says OFM is looking to raise $36 million through the trust, which closes at the end of December. The trust will be geared 53 per cent, with minimum investment in the trust $10,000 with an ongoing management fee of 0.55 per cent.
Thirlwall says the company is also working on a mortgage trust that will be released “about the end of the year” and is one of six products the group is looking at launching in the coming months.
The turnout of the new products is a result of an expansion in the group’s product development and distribution team, says Thirlwall.
It has hired John Ward fromInvescoto head up product development and research house relationships as well as managing the call centre. OFM has recently moved its call centre operation back in-house.
OFM has also recruited two new BDMs for Victoria, John Archer fromAustralian Unityand Cathy Jenkins fromColonial First State.
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