Macquarie fund goes retail after breaking $1bn barrier
Macquarie Funds Managementwill move to list its wholesale Diversified Treasury Fund on master trust and wrap menus after the fund broke the $1 billion mark for funds under management.
The fund, which invests mostly in highly-rated fixed interest securities, reached the $1 billion milestone last month after launching exclusively to wholesale investors less than two year’s ago.
Macquarie division director Michael Korber says the release of the fund through master trust and wrap menus would open it up to a potential new client base of retail investors.
“We think the fund’s style has a demonstrated track record. There has been a surge in interest [amongst retail investors] for things like mortgage trusts and this fund I think is a better alternative to some of those in terms of both risk and return,” Korber says.
The fund, which aims to outperform the Bank Bill Index, will be available through master trust platforms from next month when Macquarie launches a mezzanine version of the product.
The fund has returned 5.7 per cent per annum since its launch in November 2000, 0.6 per cent above the Bank Bill benchmark.
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