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Plato targets retirees with new fund

Plato Investment Management has launched a global share income fund aimed specifically at the retiree market.

In a statement, the company said the Plato Global Shares Income Fund provides "greater investment opportunities and enhanced diversification, while delivering high income for retirees".

The fund also provides access to different markets with diverse industries and economic cycles, as well as monthly dividends, the statement said.

"Retirees need two things: income and a well-diversified portfolio," Plato managing director Don Hamson said. "As one of the first Australian retirement income specialists, we are always looking to innovate for this market to deliver upon both objectives.

"We have a strong track record of delivering outstanding income for retirees through the Plato Australian Shares Income Fund, which has delivered 8.7 per cent annually since its inception in 2011, so we are thrilled to apply that very focused strategy to global markets."

Mr Hamson appointed three global equity specialists to help develop the fund: Jonathan Whiteoak of SSGA as senior quantitative analyst; Wilson Thong of State Street Markets as quantitative analyst; and Daniel Pennell of Real Index as senior portfolio manager for global shares.

"We are investing strongly in our global equity capability as we know the market is more than ready for it," Mr Hamson said.