Plato launches global share fund for retirees
Investment management firm, Plato, has launched a global share income fund designed for retirement income, aiming to provide diversification while delivering income for retirees.
The Plato Global Shares Income Fund provides capital growth and income, as well as access to different markets with diverse industries and economic cycles, away from the Australian equity market, which leans heavily towards the banking sector, the firm said.
The fund also offers monthly dividends instead of bi-annual dividends paid in Australia.
The fund targets a net income of six per cent per annum, which is four per cent higher than the global equity index.
Plato managing director, Dr Don Hamson, said the firm had hired three global equity specialists to develop the fund: Dr Johnathon Whiteoak from State Street Global Advisors as a senior quantitative researcher, Wilson Thong from State Street Markets as a quantitative analyst, and Daniel Pennell from Real Index as senior portfolio manager for global shares
The management fee for foundation investors who invest from now until 30 June 2016 will be 0.49 per cent per annum, while minimum initial investment for a class F investor is $50,000, and $30,000 for other investors, with a management fee of 0.99 per cent per annum (class A).
AUTHOR
Malavika Santhebennur
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