“Feedback from Australians who have had their cash tied up in very low-yield deposits with the major banks since the GFC (global financial crisis) has been that they feel they deserve better returns and that the majors took advantage of the fear in the market at that time,” FirstMac chief financial officer and chief investment officer James Austin said.
“Our new managed fund brings this competition to the bond investment market that has been traditionally tied up by large financial institutions – giving retail investors the opportunity to gain exposure to this market.”
