Magellanâs retirement fund to target 4.3pc yield
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ASX listed funds management giant Magellanâs eagerly awaited retirement product will target an initial yield of 4.3 per cent paid monthly to investors and will be supported by capital provided by the Magellan balance sheet.
The fund, branded FuturePay, will be listed on the Chi-X exchange under the ticker FPAY and begin trading next week after an official launch.
Magellanâs CEO Brett Cairns and founder Hamish Douglass.Â
Peter Rae
It will invest in global equities and target a monthly income distribution that equates to around 4.3 per cent per annum, according to information contained in the product disclosure statement.
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“This may be a new inflation cycle coming so the Federal Reserve would need to raise interest rates which will be a disaster for financial markets. If you raise interest rates to head off a real inflation threat then hang onto your chairs,” Douglass said.
“It is foreseeable that higher bond yields and inflation will put pressure on markets and people will ask if the Fed has got it wrong.”
“The long-term question is if we could we get monetary-induced inflation? Will quantitative easing lead to a new paradigm? I don’t know about that, it is very foggy out there.”
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