FIIG selects Equity Trustees as ‘responsible entity’ for new fund

Patrick Buncsi

31 October 2024

FIIG Securities, a fixed income specialist, has selected Equity Trustees as the “responsible entity” for its new FIIG Monthly Income Fund.

The inaugural Monthly Income Fund is an actively managed portfolio, boasting a mix of Australian and global, floating and fixed-coupon corporate credit, fixed interest bonds, and asset-backed securities.

According to FIIG, the fund aims to provide consistent monthly income, preserve capital, and deliver a 2% per annum (ex-fees) return above the Bloomberg AusBond Bank Bill Index, equating to 6.428% per annum (as at 24 September 2024).

Andrew Godfrey, Equity Trustees’ executive general manager, corporate and superannuation trustee services said the firm was “delighted to be selected as the responsible entity role”, effectively serving as trustee and manager of the fund, which extends an existing relationship between the pair.

Last year, Equity Trustees was also selected as trustee for FIIG’s Australian Bond Fund.

FIIG Securities chief executive Alex Welch said the partnership will ensure that investors would gain both “access to FIIG’s investment management experience and our established process” as well as benefit from the “in-depth research conducted by FIIG’s own credit research team”.

Godfrey added: “Equity Trustees’ history and specialist expertise in funds governance allows us to complement FIIG’s depth of experience within the fixed income universe.”

Established in 1998, FIIG Securities, an independent fixed-income specialist, manages more than 9,000 clients and more than $4.5 billion in funds under advice (as at 3 September 2024).