FULLERTON Fund Management has launched a series of multi-asset funds aimed at savers across the age spectrum, from young savers new to the workforce to older pre-retirees looking forward to withdrawing an income in retirement.
The Fullerton SGD Heritage Funds comprise three multi-asset solutions with varying asset allocation and income payouts. The funds are exclusively distributed by Standard Chartered Bank.
Vincent Chan, Fullerton's co-head of multi-asset, says the funds aim to help Singaporeans cope with a number of challenges, such as longevity and higher costs of living and healthcare. "We found it is important to combine growth and income. At every stage of the journey, from accumulation to consolidation to income distribution, you need both."
Fullerton, which marks its 15th year this year, manages some S$48.9 billion in assets. Of these, under S$10 billion is in multi-asset strategies. The firm is a subsidiary of Temasek Holdings. NTUC Income acquired a minority stake last year.
The Heritage Growth Fund will be 40 per cent invested in Asian stocks and 40 per cent in S-Reits. Another 10 per cent will be allocated to Singapore bonds and 10 per cent to Asian bonds. The fund aims to make monthly distributions of up to 2 per cent per annum.
The Heritage Balanced Fund will be equally allocated (25 per cent each) among Asian stocks, SG bonds, S-Reits and Asian bonds. It aims to make monthly distributions of up to 4 per cent per annum.
The Heritage Income Fund will have a 40 per cent allocation each to Asian bonds and SG bonds. The remaining 20 per cent will be invested in S-Reits. This fund offers a choice of two monthly distribution amounts - 5 per cent per annum and 8.8 per cent (for decumulating share class only).
Jenny Sofian, Fullerton chief executive, said: "Fullerton recognises the financial realities of retiring well in Singapore and has created an investment solution that would tackle this challenge. The Fullerton SGD Heritage Series is a carefully-crafted fund series which aims to deliver a variety of outcomes for investors who desire both income and capital growth... In thinking holistically about investors' retirement needs, we have also deliberately kept the cost affordable and competitive."
The Heritage Growth Fund has an annual management fee of 0.98 per cent, the Heritage Balanced Fund 0.88 per cent, and Heritage Income Fund 0.8 per cent.
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