Prime Value launches new 'Cash Plus Fund'
Boutique fund manager Prime Value Asset Management has launched a new investment product, known as the Prime Value Cash Plus Fund.
The new strategy invests in a "diversified portfolio of income-producing securities and seeks to outperform the Reserve Bank of Australia's (RBA's) cash rate with minimal risk of capital loss", the company said in a statement.
Prime Value's head of retail distribution, David Glascott, said the Cash Plus Fund is "suitable to a range of investors".
"The strategy is popular with investors who want a defensive cash-like strategy with high liquidity, and who wish to park cash while waiting to re-enter other investments," he said.
Mr Glascott added that the fund is compliant with the Significant Investor Visa scheme and had attracted "considerable" interest from high-net-worth offshore investors.
"High-net-worth investors generally want an investment that they can understand, and which is low risk. Capital preservation is very important when they are investing funds in a new country," he said.
The fund currently has $70 million funds under management and has outperformed the RBA cash rate since June 2014, according to the statement.
Advice probe costs IOOF $223m
The major wealth management group has reviewed its advisers and found instances ...
PlanPlus Global names financial planning award winners
Software firm PlanPlus Global has announced the winners of this year’s Global ...
CBA revises divestment of CommInsure
The Commonwealth Bank of Australia has revised its transaction path towards dive...