ASX listed funds management giant Magellan’s eagerly awaited retirement product will target an initial yield of 4.3 per cent paid monthly to investors and will be supported by capital provided by the Magellan balance sheet.
The fund, branded FuturePay, will be listed on the Chi-X exchange under the ticker FPAY and begin trading next week after an official launch.
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Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
