Astarra reaches for the stars with new funds
Astarra Funds Management has rolled out its first suite of investment offerings following the group’s recent launch.
The firm was formerly Tolhurst Funds Management but was acquired by Wright Global Asset Management in November 2003 and re-branded in April this year.
Through its approved trustee and responsible entity arm Astarra Capital, the firm will add three investment options — absolute return, private equity and residential property funds — to its product range.
The absolute return option will seek to achieve positive returns in both rising and falling equity markets, with a priority to preserve investment capital. The principle objective of the private equity offering is to provide capital for emerging growth companies, while the assets of the residential property option will be invested in direct Australian residential property.
Astarra joint chief executive Cameron Anderson says the new investment products also allow members to combine their investments and select up to 13 investment options, including four diversified pools.
“We believe that the most recent enhancements to the product offering are very significant for our members and advisers, both in terms of performance and risk management,” Anderson says.
Astarra, which also has a master trust — Astarra Superannuation Service — is based in Albury, New South Wales, and has more than $200 million in funds under management.
The group also has a small offshoot in Sydney and is looking to expand beyond its operations geographically over the coming months.
Recommended for you
A quarter of advisers who commenced on the FAR within the last two years have already switched licensees or practices, adding validity to practice owners’ professional year (PY) concerns.
Integrated wealth and financial services group Rethink has launched a financial planning arm called Rethink Wealth to expand beyond property investing and into holistic wealth management.
While adviser numbers continue to slowly creep back up, the latest Wealth Data analysis reveals they would actually be in the green for the calendar year if it weren’t for so many losses in the limited advice space.
Iress has appointed a chief AI officer to spearhead the fintech’s strategic focus on AI, with chief executive Marcus Price describing how the technology opens the doors to a “new frontier for wealth advice”.
