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.
Recommended for you
Almost 70 per cent of asset managers are planning to control costs via product rationalisation, according to a global survey by Northern Trust, as they seek to offer clients a best-in-class experience.
Fund managers should work collaboratively with data providers to minimise greenwashing risks in their products as a positive ESG score can be a “gamechanger” for a fund’s demand with advisers.
Asset manager Janus Henderson has made two acquisitions in the ETFs and emerging markets space as it takes strategic steps to meet client needs.
Self-reporting issues to ASIC could lead to a reduced charge for a fund manager but it may not exempt them from enforcement action altogether, according to ASIC chair Joe Longo.