CFS FirstChoice adds Pimco bond product
Global investment management firm PIMCO has launched a bond investment option on Colonial First State’s FirstChoice retail platform.
“PIMCO's inclusion is particularly important as FirstChoice is the pre-eminent platform in Australia. Our presence on the platform will greatly enhance PIMCO’s reach into the important retail market,” Peter Dorrian, head of global wealth management at PIMCO Australia said.
The offering will be available to FirstChoice’s Australian and international investment managers and is the first global bond option to be available on their AUD60 billion platform.
The option will invest in government, corporate, mortgage and other fixed income securities, as well as non-investment grade fixed interest securities and emerging markets. It will also employ an activists investment strategy that aims to reduce volatility and enhance returns by focusing on sector allocation and rotation, as well as and bottom up credit analysis of individual bonds and issuers.
The bond offering will be available to investors from 11 June this year.
PIMCO, which has operated in Australia since 1998, has about AUD35 billion of assets under management locally and USD2.04 trillion globally as of 31 March 2013.
Lifespan hires national practice manager
Non-aligned advice licensee Lifespan Financial Planning has appointed a new nati...
Westpac names head of new business division
Westpac has appointed a new chief executive of its merged business division seve...
Shaw and Partners to acquire advice firm with $650m FUA
Wealth management firm Shaw and Partners has announced it will acquire a Western...