PineBridge launches new fund
Investment manager, PineBridge Investments has launched a new product into the Australian market.
The company said it had launched the PineBridge Global Dynamic Absolute Return Fund ARSN 600 142 578 with the seed client being “a leading Australian public sector state fund”.
It said the fund, PineBridge’s first Australian managed fund, adopted a dynamic asset allocation investment approach targeting a five-year rolling return of 5 per cent a year before fees and tax above inflation.
PineBridge’s Global Head of Asset Allocation and lead Portfolio Manager, Michael Kelly said the local DAA fund would assist Australian investors in adopting a more outcome-oriented approach to governing their assets.
PineBridge Australia managing director, Clinton Groble, said thes mandate appointment represented an acknowledgement of PineBridge’s absolute return investment capabilities.
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