Mariner Financial has launched its anticipated Mariner Lifestyle Bonds product, making it the first product to come out of the group’s stable since its formation in May last year.
The group is the latest venture of founder and former managing director ofChallenger InternationalBill Ireland with the group stating the key differentiating feature of the new product is the investor’s capital is progressively returned over the life of the bond together with the interest earned.
According to Mariner, the bonds are transferable, can be uniquely tailored, and investors aren’t locked in, as they are able to partake in interest rate rises while being protected against falling rates.
The bonds have also been designed to offer competitive rates, with a price structure including a “trigger rate” above which investors receive an additional interest payment.
The new product will be targeted primarily at retirees as a core retirement investment, or as an option for “asset rich and income poor” retirees who may need help with things such as staying in their family home longer.
The group says the bond product will also be useful in situations such as constructing a complying pension, funding children’s university years, or to extending the life of an allocated pension.
Ireland says the bond product is only the first in a series of products it will launch that aim to be innovative to give retail investors more choice in their investment and retirement planning.
Mariner Financial managing director Bill Ireland says Mariner has the ability to start with a clean sheet of paper when structuring new kinds of financial solutions.
“We started with the consumer, talked to planners, and designed a product that fits a variety of common lifestyle scenarios,” Ireland says.
