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.