Posted inSingapore

Fullerton preps multi-asset income offering

The fund may invest in other products managed by the firm.
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Singapore-headquartered Fullerton Fund Management has filed an application with the Monetary Authority of Singapore (MAS) to launch the Fullerton MoneyOwl WiseIncome Fund to retail investors in the Lion City, according to the regulator’s website.

The fund is a mixed-asset product, which has a “neutral” asset allocation of 60% in equities and 40% in fixed income and/or cash, according to the fund’s prospectus. The fund has the flexibility to perform tactical asset allocation from the neutral allocation within a range of +/-10% for equities and +/-5% for fixed income and/or cash, it noted.

The investment objective of the fund is to generate regular income and long-term capital appreciation for investors. The income will be distributed on a quarterly basis, the prospectus reads, but does not mention of a target yield for the product.

The new fund is also classified as a “feeding sub-fund”, in which it may invest in other funds managed by Fullerton. It is actively managed on a total return basis without reference to a benchmark, it added.

FSA sought more information from the firm, but it was not able to reply in time for publication.

The fund manager launched three mixed-asset funds in 2019. They are the Fullerton SGD Heritage Balanced, Heritage Growth and Heritage Income funds. The three products have different weightings for equities and fixed income: the balanced will have a 50/50 allocation, growth will have up to 80% in equities, and income will have up to 80% in fixed income.

Part of the Mark Allen Group.