Grow with Singlife (Grow), an integrated investment platform under financial services company Singlife, has announced a strategic partnership with active asset manager Allianz Global Investors Singapore (AllianzGI).
Grow and AllianzGI are introducing the Allianz Global Income fund exclusively to Grow’s network of advisers and their clients. The fund is in Singapore dollars (SGD) and offers monthly dividends to investors.
“The portfolio is well-diversified across four main asset classes – global equities, global convertible securities, global investment-grade corporate bonds and global high-yield bonds – which aims to provide investors with stable income and capital appreciation,” said Akhil Doegar, chief executive officer at Grow with Singlife, in a statement.
The Allianz Global Income fund (Class AMgi H2 SGD) seeks to offer a monthly dividend stream regardless of the fund’s net asset value fluctuations, with an annualised distribution yield of 7.85%.
Enhanced diversification is achieved through allocations to global equities, convertible securities, high-yield corporate bonds and investment-grade corporate bonds, which offer a wider range of income and growth opportunities compared with an equity-only investment portfolio.
Risk is mitigated by investing across various asset classes with historically low correlations, while the fund aims to mitigate volatility while balancing the risk-return profile.
“Through this collaboration (with Grow), we are pleased to provide retail investors access to our fund that invests across a global landscape of best-in-class companies in global equities and bond markets,” said Kelvin Lam, head of retail distribution for southeast Asia at AllianzGI
The Allianz Global Income fund’s initial public offering (IPO) started on 15 March 2024. Following the IPO, Grow’s advisers and clients will be able to place orders directly on the Grow platform.
