FIIG Securities has opened applications for its second managed Fund, the FIIG Monthly Income Fund, designed to provide investors with a diversified portfolio of stable monthly income through investments in Australian and Global floating and fixed-coupon corporate credit and Asset-Backed Securities, while managing interest rate risk.
The Fund adds to the expansion of FIIG’s Investment Management Business, accompanying the FIIG Australian Bond Fund, which launched in October 2023.
Portfolio Investment Manager, Garreth Innes said, “A large proportion of our client base is seeking regular income that can outpace inflation. However, they have limited time or capacity to actively select and manage the best risk-adjusted opportunities in a very broad and nuanced investment universe, both in Australia and further afield. The FIIG Monthly Income Fund is our solution for existing and new clients to our firm.”
The Fund will be targeting a return of 2% p.a. above the Bloomberg AusBond Bank Bill Index, which equates to 6.39% p.a. for the 12-month period to 2 September 2024.
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The FIIG Monthly Income Fund officially opened for applications in September and will start investing on 1 October 2024.
Open to retail and wholesale investors the fund has a management fee of 0.50% including GST with an initial investment of $10k.
