Wayne Buckingham
Mutual Limited has announced that the Mutual Wholesale Income strategy has been added to FirstChoice’s Investment and Super & Pension platform menus effective 22 May 2023.
The strategy gains exposure to the Mutual Income Fund, which seeks to provide a reliable income stream and a high level of capital preservation by investing in a portfolio of Australian bank senior and subordinated floating rate notes, with a concentration to the Big 4 banks.
The Fund is designed to provide retail investors with exposure to Australian Bank bonds to provide better-than-cash returns with limited interest rate volatility.
The Fund’s current yield to maturity is 5.43%[1] before fees, and its performance has been bolstered by successive interest rate hikes.
Wayne Buckingham, Managing Director of Mutual Limited said “We are excited to be engaged by one of Australia’s leading wealth management groups providing investment, superannuation and retirement products to individuals, corporate and superannuation fund investors. The Mutual Wholesale Income option offers platform users an income-focused, cost-effective and well-rated solution that only invests in Australian banks.”
The Mutual Income Fund celebrated its 10-year anniversary in April 2023 and has returned 2.51% p.a.net of fees since inception, exceeding the Bloomberg AusBond Bank Bill Index return of 1.69% p.a.
Mutual Limited is an Australian-owned cash, credit and fixed income investment manager with $2.7 billion under management. Its four funds are distributed by Copia Investment Partners.
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