Fund Product Updates

Class launches Class Trust cloud accounting and administration product

After a pilot with over 30 accounting practices where efficiencies were observed in managing trusts, accountants, financial advisers and administration professionals now have another automation tool, Class Trust. Data feeds connect directly to institutions, with tools to automate tax accounting reconciliation throughout the trust lifecycle. Class Trust is integrated with Class Super and Class Portfolio.

Perpetual closes underperforming super options

Perpetual has removed the Geared High Growth option, Geared Australian Share option and Capital Guarantee option for Perpetual Select Super members due to poor performance.

World-first Shariah-compliant ETF launches on London Stock Exchange

A Shariah-compliant exchange-traded fund (ETF) has been launched on the London Stock Exchange, thought to be a world-first. The actively managed Almalia Sanlam Active Shariah Global Equity UCITS ETF (AMAL) looks to achieving capital growth over the medium to long term. Financial services firm, Almalia, chose Sanlam Investments UK as their fund manager, with the strategy based on the Global High Quality Fund. The ETF is managed by Pieter Fourie and his team in the global equities team at Sanlam.

FHIM launches multi-strategy fund

Boutique Australian investment manager, Ferguson Hyams, has launched its multi-strategy fund, managed by Incu Capital Management, a Bermuda-based firm. The fund uses sophisticated quantitative and foreign exchange trading strategies, with the aim to generate 10-15 per cent per annum. The first month saw a 1.1 per cent return. The minimum investment is $100,000 with daily liquidity and no lock-ins.

Fidelity International launches future leaders fund

The Fidelity Global Future Leaders Fund is set to invest in 40-70 small and mid-cap global investment opportunities sitting with a market capitalisation of between US$1bn-US$40bn. The goal is to catch global leaders of the future - ‘the stars of tomorrow’ - before they become large caps. James Abela is the portfolio manager at Fidelity International, with the fund open to both wholesale and retail investors.

Lazard Global Convertibles Fund now open to Australian investors

Australian investors can now invest in the Lazard Global Convertibles Fund. Lazard Asset Management Pacific Co invests the strategy in 60-80 securities from 900-1000 convertible bonds, targeting a return above the Thomson Reuters Global Focus Hedged (AUD) Convertible Bond Index over rolling five year periods. Open to wholesale and retail investors.