Macquarie adds fixed interest products
In response to demand for fixed interest products in both the domestic and global sectors,Macquarie Funds Managementhas rolled out two new funds to meet the market need.
The new funds, the Macquarie True Global Fixed Interest Fund and the Enhanced Global Bond Fund, were designed to provide a zero or low cost exposure to global fixed interest markets.
According to MFM international fixed interest product manager Louise Walker local investors are becoming more aware of the fixed interest sector and were moving away from government issued debt towards global fixed interest products.
As such the True Global fund will deliver guaranteed index returns based on the Salomon Smith Barney World Government Bond Index and hedged to the Australian dollar. The Enhanced Global Bond Fund will work from the same index but aim for returns in excess of 0.5 per cent.
Walker says the new products offer investors access to global products but with low risk exposure and these products complete the range of fixed interest offerings for Macquarie by filling a gap at the low risk end of the market.
The products have been slated for release to institutional investors in the short term and depending on that response may be offered in due course to retail investors, however Walker could not confirm the timeframe on any retail offerings.
AUTHOR
Jason Spits
Recommended for you
Digital advice tools are on the rise, but licensees will need to ensure they still meet adviser obligations or potentially risk a class action if clients lose money from a rogue algorithm.
Shaw and Partners has merged with Sydney wealth manager Kennedy Partners Wealth, while Ord Minnett has hired a private wealth adviser from Morgan Stanley.
Australian investors are more confident than their APAC peers in reaching their financial goals and are targeting annual gains of more than 10 per cent, according to Fidelity International.
Zenith Investment Partners has lost its head of portfolio solutions Steven Tang after 17 years with the firm, the latest in a series of senior exits from the research house.
