Colonial First State Global Asset Management (CFSGAM) has launched its first investment option in accordance with the Department of Immigration Significant Investor Visa (SIV) requirements in Australia, according to Financial Standard.
The Colonial First State Wholesale Sovereign Australian Bond Fund is available to investors who satisfy the SIV requirements.
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The new fund will invest 100% in cash, Australian Commonwealth Government and Australian semi-government securities and is aimed at conservative investors targeting capital preservation and low-risk income.
Under the SIV scheme, investors can apply for a provisional visa on the basis of a minimum investment in Australia of $5 million and a permanent visa after holding complying investments for a minimum of four years.
The scheme aims to attract applicants with a history of success in business and investment to help boost the country’s economy.
CFSGAM manages more than $173 billion across a diverse range of asset classes.
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