Goldman Sachs pools infrastructure stocks
The local arm of US-based investment bank Goldman SachsJBWere, (GSJBW) has launched a new managed fund that will mostly invest in infrastructure stocks listed on the Australian Stock Exchange.
The wholesale fund will have the capability to invest in global non-listed infrastructure assets.
“Until now, Australian investors could only access the many benefits of infrastructure stocks by either investing directly in the share market, or via a core Australian equities managed fund,” said GSJBW head of Australian equities Tim Hannon.
Hannon said infrastructure assets have a low correlation with other asset classes, providing diversification benefits.
“Infrastructure assets are typically capital intensive and have a high degree of revenue certainty, given that prices are generally linked to CPI [consumer price index] and volumes are relatively insensitive to economic cycles,” he said.
Recommended for you
Despite the government agreeing to replace SOAs with CARs, the FAAA and SIAA believe greater streamlining of documentation is needed for the change to have a positive impact on advisers.
There are “multiple black swan events” threatening the financial advice industry currently, according to the FAAA’s Phil Anderson, potentially running up the compensation bill for advisers.
Former national business growth manager at AMP Advice has taken a new role at Sequoia Financial Group.
With the ESG label often causing confusion among investors, Nanuk Asset Management has encouraged financial advisers to use more plain, specific language with their clients.
