Mariner expands lifestyle bond portfolio
Mariner Financial yesterday lodged prospectuses with theAustralian Securities and Investments Commission(ASIC) for two new versions of its recently launched Lifestyle Bonds product.
While the variations mirror the original core Lifestyle Bond (Additional Interest), they differ on how the products’ return to investors is calculated.
The additional versions are in line with the group's mission to provide retail investors with better choice and flexibility in their investment and retirement planning.
The group’s Lifestyle Bonds are fixed-term investments providing a long-term income stream, and investors choose a term of seven, ten, twelve or fifteen years to suit their time horizon and investment needs.
The new versions are the Mariner Lifestyle Market Linked Bonds and the Mariner Lifestyle Fixed Rate Bonds.
Mariner has also lodged a replacement prospectus for its Lifestyle Bond (Additional Interest), originally lodged in December.
Mariner founder and managing director Bill Ireland says in the light of recent concern over levels of retirement income, the bonds offered an option for retirees to manage their assets and cash flow requirements.
“Our market research shows the Australian financial services landscape has focused very much on growing investors' wealth during their "accumulation" phase of working life, but has failed to develop adequate solutions for people trying to manage their finances through retirement,” Ireland says.
Mariner suggests the bonds could be used as a core retirement investment; as a solution for “asset rich/income poor” retirees (for example, helping them stay in their family home longer); to construct a complying pension; to fund children's university years; or to extend the life of an allocated pension.
Recommended for you
Licensee Centrepoint Alliance has completed the acquisition of Brighter Super’s annual review service advice book, via Financial Advice Matters.
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
