Following the enormous success of its global technology fund, Colonial First State is to about launch the Global Health and Biotechnology fund.
Following the enormous success of its global technology fund, Colonial First State is to about launch the Global Health and Biotechnology fund. Before suffering major losses in the cor-rections in technology stocks in recent weeks, Colonial global technology fund had amassed nearly $200 million under management since being launched in November last year. Like Internet companies make up only a small part of the technology fund, biotechnology funds only make up about one fifth of the stocks in the new Colonial fund. The launch of the fund comes within weeks of US fund manager Janus closing its global healthcare fund which has more than $4 billion under management in the US.
Macquarie Bank has released a second series of its Portfolio Instalments, a partly-paid basket of blue chip shares paid for in two instalments. Macquarie’s Portfolio Instalments invest in in a bas-ket of 10 predetermined shares, comprising AMP, Brambles, BHP, Lend Lease, National Ausra-lia Bank, News Corp, Telstra, WMC, Woodside Petroleum and Woolworths. Macquarie Equity Markets associate director Jeff Weeden says the release is designed to take advantage of a “clear flight to quality in the stock market”, with focus moving away from the technology sector to stocks with proven earnings and profit streams. For an initial investment of about 50 per cent of the portfolio’s value, investors were entitled to all of its capital growth, dividends and franking credits. Weeden says the instalments are also one of the few legitimate gearing structures that can be used by self-managed super funds.
Fans of infrastructure investments will be interested to know of an offering by the Australian Pipeline Trust (APT). APT is seeking to raise $488 million for the trust to invest in 7,000 kilo-metres of gas transmission pipelines traversing four states and two territories. The trust forecasts yields of 10.25 per cent for next financial year and 10.5 per cent the following year. The offer closes on June 2.
WRF Securities has lodged a prospectus with the Australian Investments and Securities Com-mission (ASIC) which will offer investments in a Tasmanian blue gum plantation development at Kangaroo Island. Investors in the project will take a share in the plantation; ownership of the land where the trees are growing through shares in KI Planatations; and options to purchase shares in the listed parent company WRF Securities. WRF Securitise says an Australian tax of-fice product ruling offers investors possible tax deductions and carbon credits may accrue from the project.
