Moelis Australia Fixed Income Fund
Moelis Australia has opened a fixed income fund for investment. The Moelis Australia Fixed Income Fund invests in a diversified portfolio of credit investments.
The fund will target returns of the RBA cash rate plus 4 per cent per annum net of fees and will distribute monthly. It is only available to wholesale and institutional investors and has a minimum investment of $100,000.
Moelis Australia will co-invest an amount equal to 10 per cent of the fund's capital in the fund and says that co-investment is used to prioritise investor returns and significantly reduce investor risk.
The terms of the co-investment will provide investors with the benefit of a capital buffer and income priority. Moelis is also planning an IPO of the fund in the second half of 2019. Applications for the open-ended fund are due by 20 June 2019.