Vic Jokovic
Chi-X Australia (“Chi-X”) is pleased to welcome the newly launched Magellan FuturePay (Managed Fund) (“FuturePay”, Chi-X symbol ‘FPAY’), issued by Magellan Asset Management (“Magellan”), to its growing suite of Chi-X Funds.
FuturePay commences trading at 12pm on the 2nd of June and aims to deliver investors with a predictable monthly income that grows with inflation, is driven by returns and capital growth, and has a focus on downside protection.
Magellan’s Chief Executive Officer, Brett Cairns, said “We are pleased to again be partnering with Chi-X to bring our latest fund innovation, FuturePay, to the Australian market.”
“We believe FuturePay will help investors and their advisors to meet the challenges of establishing a regular income from their accumulated savings, a problem particularly relevant to those in retirement.”
FuturePay invests in a portfolio of high-quality, low volatility companies listed on securities exchanges around the world which Magellan believes can deliver attractive, risk-adjusted returns over the medium to long term. Importantly, FuturePay also incorporates a unique reserving strategy which underpins its objective of providing investors with a predictable monthly income that grows with inflation.
Magellan Financial Group’s Head of Retirement Solutions and Data Science, and FuturePay Portfolio Manager, Paddy McCrudden, said FuturePay offered a viable alternative for Australians reaching retirement age.
“We think that FuturePay really addresses an unmet need in the Australian retirement landscape. The combination of a portfolio of high quality, low volatility global companies and a reserving strategy with on-going income support means that FuturePay has the potential to significantly improve outcomes for investors in retirement.”
Chief Executive Officer of Chi-X Australia, Vic Jokovic, said FuturePay was an example of rigorous and disciplined product innovation.
“We are excited to be the exchange provider of choice for Magellan’s FuturePay, which is set to be a real game changer for investors, most notably for Australia’s rapidly expanding post-retirement cohort,” Mr Jokovic said.
As more Australians seek access to global opportunities, Mr Jokovic said the recent strong demand for ETFs showed no signs of abating.
“Active ETFs have proven to play an important role for investors and Chi-X Funds continue to experience significant growth. FuturePay will be the ninth fund to launch on Chi-X in under six months. This adds to a growing list of Active ETFs on our platform that aim to deliver greater diversity to the portfolios of Australian investors.”
Chi-X Funds began trading on exchange in October 2019, enabling issuers to provide investors with access to managed funds, together with the convenience of daily quotation and trading. The MFG Core Series and the Magellan Sustainable Fund commenced quotation on Chi-X Australia in December 2020.