Rabobank expands in Australia
Rabobank has expanded into the retail structured products market in Australia with the launch of a structured deposit for local investors.
The fund, C.A.S.H Deposit, is one of a number of new investment products being offered by companies facing increased demand for financial security within investment products.
It is the first time Rabobank has facilitated an offering of a structured deposit to retail investors in Australia.
Announcing the launch, Rabobank Australia and New Zealand chief executive officer Bruce Dick said the new business was designed to further expand the services Rabobank provides to the Australian market.
“The move into this new business represents the latest in the continuing development of Rabobank in Australia,” Dick said.
“Financial security is an overriding concern for so many investors during these times of significant market volatility and uncertainty. This product has been designed to provide investors with a safe haven for their principal” he said.
C.A.S.H. Deposit takes its name from the equity markets of China, Australia, Singapore and Hong Kong. Its returns are linked to the underlying performance of these markets.
C.A.S.H Deposit is the only 100 per cent principal-protected investment product issued by a AAA credit-rated institution available to retail investors in Australia, Rabobank said.
Dick said funds invested in Rabobank C.A.S.H. Deposits would be injected back into the bank’s lending activities in rural and regional Australia.
Rabobank head of retail structured products Australia Keenan Bunning said C.A.S.H. Deposit had a four-year term and would pay interest annually.
Recommended for you
Despite the year almost at an end, advisers have been considerably active in licensee switching this week while the profession has reported a slight uptick in numbers.
AMP has agreed in principle to settle an advice and insurance class action that commenced in 2020 related to historic commission payment activity.
BT has kicked off its second annual Career Pathways Program in partnership with Striver, almost doubling its intake from the inaugural program last year.
Kaplan has launched a six-week intensive program to start in January, targeting advisers who are unlikely to meet the education deadline but intend to return to the profession once they do.
