New Zealand asset manager Milford has launched three global equity funds for Australian investors and advisers.
The three funds were Milford Global Real Asset, Milford Global Growth and Milford Global Opportunities and followed the promotion of Alexander Whight as head of global equities.
The Global Real Asset fund aimed to provide consistent income and capital growth by investing in global listed infrastructure, utility and real estate securities while outperforming the Reserve Bank Australia cash rate by 4% per annum.
The Global Growth fund was a version of a strategy running in New Zealand which aimed to provide capital growth by investing in global equities with favourable growth characteristics while the Global Opportunities fund aimed to provide capital growth by investing in attractively-valued global equities. Both funds aimed to outperform the MSCI World index.
Head of business, Kristine Brooks, said: “We are pleased to have launched three new global funds in Australia, which will serve the needs of advisers and investors. We know advisers want high-performing and globally-diversified portfolios and that’s what our funds are designed to deliver.
“We have a strong and growing local investment team with deep talent that are well equipped in supporting Australian advisers ahead of this year’s anticipated market volatility.”
Meanwhile, Milford chair, Mark Cross, announced he would retire from the board at the end of June and be replaced by non-executive director Gavin Walker, who joined the board last November.
Cross joined the board in March 2013 and was appointed chair in November 2015
He said: “It has been a privilege to be part of Milford for nearly a decade, and to witness the growth of the business from under $2 billion to nearly $17 billion of client funds under management.”
