FirstChoice adds Mutual Limited strategy

Yasmine Raso

Senior Journalist, Financial Newswire

2 June 2023

Mutual Limited’s Mutual Wholesale Income strategy has been made available to advisers and investors through several avenues via Colonial First State’s (CFS’s) FirstChoice platform.

The strategy, which offers exposure to the Mutual Income Fund, have been featured on FirstChoice’s Investment, Super and Pension menus since 22 May.

The fund aims to provide a stable source of income and high level of capital preservation with a portfolio of Australian bank senior and subordinated floating rate notes, focusing on the Big 4 banks and limiting interest rate volatility.

“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,” Mutual Limited’s Managing Director, Wayne Buckingham, said.

“The Mutual Wholesale Income option offers platform users an income-focused, cost-effective and well-rated solution that only invests in Australian banks.”

Celebrating its 10-year anniversary in April this year, the fund also reported a current yield to maturity of 5.43 per cent before fees, attributing its high performance to continuous interest rate hikes.

A cash, credit and fixed income investment manager with $2.7 billion in funds under management (FUM), Mutual Limited’s funds are distributed by Copia Investment Partners.