Progeny Asset Management the investment management arm of the Progeny Group has launched a multi-asset exchange-traded fund (ETF).
The Optimised Passive Income 60/40 fund is designed for investors who want exposure to a range of global asset classes and a target yield of 3% a year but with modelled annual drawdown in any 12-month period, not expected to exceed 7%.
It will be implemented via exposure to up to 14 iShares ETFs. The ETF will be available via financial advisers, not directly to clients.
It is expected to allocate around 60% globally to equities, private equity, property, and around 40% to global fixed income.
Progeny director Ian Hooper said investors and their advisers need diversified upside exposure and yield but also wish to understand the downside risks.
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