National Australia Bank (NAB) has spun off a new funds management arm called Antares, launching its first investment product.
The product has been developed with boutique manager, Lodestar Capital Partners.
The Antares Lodestar Absolute Return Trust is a high conviction fund that aims to provide investors with returns that are closer to the share market but with volatility of the fixed interest market.
The fund has already been listed on the MLC Masterkey Custom platform.
"The business was developed over 18 months. We wanted to create alternative products to meet investor needs," NAB Capital, head of structuring and investments Mike Stone said.
"We will be working with NAB's wealth management business MLC.
"Their business is different so there is room in the market for our style of products," Stone said.
Lodestar is the first of its investment managers to be incubated and Stone said there will be more managers launched through the business.
"We will be developing similar partnerships with other people in order to provide investors with best of breed products," Stone said.
The Antares business is headed up by managing director David MacGregor.
