Melbourne-based wrap platform administrator Avanteos has added term deposits to its range of defensive investments in response to growing demand from advisers and their clients for products that will help them weather market volatility.
“Advisers want a range of options to suit differing needs,” Avanteos general manager, product and distribution, Steve Thomas, said.
Avanteos’ new Commonwealth Bank term deposit carries an AA- rating and is available for terms of one, three, six and 12 months with rates of up to 8.2 per cent per annum. The minimum investment is $25,000. The company will also offer a 12-month Adelaide Bank deposit for those looking to invest upwards of $50,000.
Thomas said the term deposits complement the Avanteos platform’s range of negotiable certificates of deposit, which have proved popular since their introduction last year.
“We’ve experienced a six-fold increase in funds under administration into this investment type over the past few months, which simply highlights the demand for defensive investments,” he said.
