Yellow Brick Road has announced a cash fund offered by an affiliated fund manager has been ranked highly by a Morningstar report.
The Smarter Money Active Cash Fund – managed by YBR-owned Smarter Money Investments – has performed better than competing active cash and short-term fixed interest since its inception in February 2012, according to a statement from YBR.
Senior portfolio manager Darren Harvey said the fund had “consistently beaten the 'top quartile' (or 75th percentile) and 'median' (50th percentile) peer fund over the 1 month, 3 months, 6 months, 12 months, and 2 years to 31 December 2014”.
According to the statement, Morningstar found the Smarter Money fund returned 4.1 per cent over the year to 31 December 2014 while the median short-term fixed interest fund returned 3.2 per cent.
The fund holds, on average, 56 per cent of its portfolio in Australian deposits and the remainder in liquid Australian floating-rate notes, the statement said.
Comments powered by CComment
Financial services software firm Iress says that its recent strategic shift will allow it to lean into its core offering
Australians will often turn to their immediate circle when the topic of retirement planning arises, new figures have ...
The AIOFP has announced new programs with a UK-based private banking and wealth management firm and a rural succession ...
Never miss the stories that impact the industry.
Get the latest news! Subscribe to the ifa bulletin