Northward Capital portfolio manager John Moore said its client was looking for an investment that delivers a reliable source of income that is less susceptible to market movements than a typical Australian share portfolio.
“We fulfil the criteria as we have delivered eight to 10 per cent per annum income since the fund’s inception in March 2011," Mr Moore said.
“Importantly, this has been achieved while exhibiting less than half the volatility of the market which means a much smoother investment journey for our investors,” he added.
Uniting Financial Services executive director Neil King said it had recently reviewed its asset allocation and this investment forms part of the reallocation within its growth portfolio.
“Northward’s Equity Income Fund offers UFS the opportunity to gain equity market exposure, with lower volatility whilst adhering to the ethical principles of the Uniting Church (NSW/ACT) Synod,” Mr King said.
Northward Capital is an employee-owned company, with NAB holding a minority equity stake.
