Apostle Loomis Sayles attracts fund flows
Apostle Asset Management has this week announced new mandates which have increased fund flows into the Apostle Loomis Sayles Credit Opportunities Fund and the Apostle Loomis Sayles Senior Loan Fund over recent weeks.
Discussing the flows into the specialist bank loan products, Apostle managing director Karyn West said they reflected the attractive features of loans which suit the current market conditions.
"The product is designed for a total return and offers diversification to broader fixed income asset classes as well as an inflation hedge," she said.
Loomis Sayles portfolio manager Kevin Perry said that in an environment of global economic uncertainty and persistently low interest rates, bank loans' dual protection of principal and interest might prove to be uniquely suited to the prevailing market conditions.
Loomis has flagged it intends to launch a structured loans product (CLO) which has a minimum two-year lock-up, with attractive target returns and low volatility.
According to Loomis, it may prove attractive to investors who can manage low liquidity and may offer a significant yield advantage compared to investing in straight bank loans.
Recommended for you
AMP has agreed in principle to settle an advice and insurance class action that commenced in 2020 related to historic commission payment activity.
Financial advisers will have to pay around $10.4 million of the impending $47.3 million CSLR special levy but Treasury has expanded the remit to also include super fund trustees and other retail-facing sub-sectors.
While social media can have positive financial influence, the overwhelming risks signal a greater need for affordable advice as Australians continue to seek financial education on social media.
Fitzpatricks Advice Partners has released a guide on building a national advice firm with the argument that these firms are crucial to facilitating growth in the struggling profession.
