Fund Product Updates

New Product Updates

Magellan launches on Chi-X

The Magellan Financial Group Core Series and the Magellan Sustainable Fund have been launched on Chi-X. The MFG Core series contains three funds - MFG Core International Fund, MFG Core ESG Fund and MFG Core Infrastructure Fund. The Core Series looks to leverage the company’s philosophy and in-house research for lower-cost, diversified portfolios.

Superhero launching super fund

Superhero, an online trading platform, is moving into superannuation in 2021. The super fund will be open to all, but those around age 30 with a minimum of $10,000 are a key target market. Diversa is the trustee of the fund and OneVue it’s administrator. The fund will have two options, ‘autopilot and ‘control’.

AMP launches guaranteed return of capital retirement product

The new retirement product out of AMP is MyNorth Guarantees, available on the MyNorth platform for investors closing in on retirement. Investors who keep their investment for either five or 10 years get their initial investment sum back, no matter how the market performs. This does not include fees. The minimum investment is $20,000.

Existing Product Updates

ETF Securities closes two ETFs after a failure to thrive

Two exchange-traded funds launched by ETF Securities have not grown big enough and so are being closed. The ETF Securities Global Core Infrastructure ETF (CORE) and the Enhanced USD Cash ETF (ZUSD) will close after the last day of trading on 20 January 2021.

Aberdeen Standard wraps up fixed interest strategies

After a reconfiguration at Aberdeen Standard Investments, Australian fixed income strategies for Australian clients will end. The business will be redirected to focus on key areas of growth to meet client needs, resulting in ASI Australia closing three local fixed income funds. The closing funds are the Aberdeen Standard Diversified Fixed Income Fund, Aberdeen Standard Inflation Linked Bond Fund and Aberdeen Standard Australian Fixed Income Fund.