Milford Diversified Income Fund

Milford Australia has made its Diversified Income Fund available in Australia. The fund invests in fixed interest and income-generating equities with a neutral growth/income asset split of 40/60 per cent.

The fund is based on Milford's Diversified Income Fund in New Zealand and will target returns of the RBA cash rate plus 3.5 per cent per annum.

"In this low interest rate world, Australian investors - particularly those approaching or in retirement, now more than ever need access to a reliable income stream. However, they also need that income to be able to grow as their cost of living increases, as it often does above the rate of inflation," chief investment officer, Wayne Gentle, said.

The fund is expected to be available on a range of platforms shortly.