Omega Global Investors has announced the launch of a new income fund managed by recently appointed portfolio manager John Moore.
The Omega Australian Equity Income Fund will aim to deliver income of 4 to 6 per cent per annum, Omega said, while also trying to reduce volatility.
“The regular income needs of Australian retirees, who want less worry about their capital and the opportunity for longer-term growth in their retirement savings, is the target market for the Australian Equity Income Fund,” said Mr Moore.
Mr Moore said the fund was “on track” to launch in April.
Omega Global Investors co-founder Mathew McCrum said the strategy would have an effective market exposure of 50 per cent, and that Mr Moore’s experience was well-tailored to the strategy.
“John’s proven background managing Australian equities to a defined outcome using various investment and protection overlays dovetails perfectly with our existing Smart Beta Plus capability,” Mr McCrum said.
“In combination, the options and shares display quite different risk/return characteristics to other equity income funds,” Mr Moore said.