Bennelong Funds Management has launched the Allspring Global Income Fund, a new investment offering aimed at retail, wholesale, and institutional investors across Australia.
The launch follows Bennelong’s strategic partnership with Allspring Global Investments, announced in May, to distribute Allspring’s global income strategy throughout Australia and New Zealand.
Allspring, a prominent global asset manager with over USD$600 billion in assets under management and advisement, brings deep expertise in fixed income, managing more than USD$460 billion in this asset class. The new fund leverages Allspring’s dynamic global income strategy, investing across a broad spectrum of fixed income sectors including government bonds, securitised assets, investment-grade and high-yield credit, and emerging market debt.
The fund aims to outperform the Bloomberg Global Aggregate Index, offering daily liquidity and a total return through monthly income and capital growth.
John Burke, CEO of Bennelong, described the fund as a “core component of well-diversified portfolios,” citing Allspring’s decade-long track record of strong risk-adjusted returns. Chair Gillian Larkins highlighted the move as part of Bennelong’s evolution beyond equities. Andy Sowerby of Allspring added that the fund’s flexible, multi-sector approach is well-suited to navigating ongoing market volatility.
Blossom for Kids
Meanwhile, micro-investing app Blossom has launched its new feature Blossom for Kids enabling adults to open accounts for under-18 family members or loved ones.
Blossom has lifted its funds under management by more than a fifth since the start of the year to $122 million.
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The new feature sits alongside existing tailored offerings including accounts for businesses, self-managed super funds and couples.
Blossom said that Blossom for Kids opens up an exciting alternative to traditional cash and equities products, giving young savers direct access to a professionally managed bond fund via either the Blossom Save or Blossom Plus products, which target returns of 5.45% p.a. and 6.50% p.a. respectively.
“Bonds have for a long time played a role in building and protecting wealth, but until now they’ve often been out of reach for everyday families,” said Blossom co-founder Gaby Rosenberg.
“With Blossom for Kids, we’re removing barriers by offering access with minimum investments as low as $5, all through an intuitive digital platform.
“Parents can easily establish accounts and track progress alongside their children, turning financial literacy into a hands-on experience.”
