Bendigo Wealth has launched a new income fund on the occasion of the bank’s second anniversary.
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The Sandhurst Strategic Income Fund joins other product launches since Bendigo Wealth’s inauguration, namely, Bendigo SmartStart Super and the Bendigo managed wholesale fund product suite.
Alexandra Tullio, head of wealth markets, said: "We recognise that there are many Bendigo customers especially those approaching or already in retirement with existing term deposits who are looking for regular income and good returns. They’re looking for that happy medium with an experienced funds manager.
"Understandably, these customers are risk averse. They’re not considering bonds, and term deposit returns are lower than they’d like – but they’re not yet ready to venture back into the equities market either.
"We’ve used our years of wealth management experience to build the Income Fund as a stepping stone between investment classes such as bonds, term deposits and equities. We’re saying that the Income Fund is well qualified to be in that sweet spot as a customer’s first and perhaps logical alternative to a term deposit."
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By GlobalDataHead of Sandhurst Trustees, Paul Rohan said, "Sandhurst’s Income Fund is a low risk investment with quarterly income distributions. Unlike other term deposits it can be accessed weekly without penalty and rollovers. "
