Macquarie to launch lending option fund
Macquarie Bankwill be launching a new lending option fund aimed at the retail market.
The fund will allow investors to borrow to invest in a pool of managed funds.
Macquarie Investment Banking Group executive director Peter Lucas says the new fund will be different to other lending products in that it will allow Macquarie to redirect investments into cash as protection against bad investments.
“We will invest all the money into cash if the investment is looking risky. This will give the investor a lower exposure to risk,” he says.
Lucas says the cost of production of the new trust is low, costing about 80 basis points.
The managed funds to be selected will be “best of breed” and Lucas expects to see between six to 10 funds being offered initially.
“We will be including both international and domestic equity funds together with some hedge funds,” he says.
The fund is expected to be launched early May.
Macquarie is currently seeking a Product Ruling for the trust.
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