The fund aims to offer investors an inflationary hedge and sustainable income growth. It invests largely in Australian real estate investment trusts, utilities and other infrastructure that pay attractive dividends and, in some cases, offer franking credits. Its aim is to pay 120 per cent of the Australian Securities Exchange dividend yield.
Portfolio manager Ashton Reid heads a team of seven that runs the fund.
Legg Mason Asset Management Australia recently seeded the fund with $100,000.
Legg Mason spokesman Anthony Pesutto said the next step was to get the fund onto platforms.
