Aims to provide attractive income distributions, paid monthly, combined with diversification benefits deriving from a portfolio of high-yielding, fixed-rate Australian investment grade corporate bonds.
Assets are invested in a portfolio of high yielding, fixed-rate Australian investment grade corporate bonds.
Eligible bonds must have amounts outstanding of at least $250m and a term to maturity of between 5.25 to 10.25 years.
The portfolio is comprised of senior, fixed rate, investment grade debt denominated in Australian dollars, issued by companies listed on the ASX or other eligible entities.
Eligible bonds are ranked by yield above benchmark (being a Commonwealth Government bond of similar maturity), with up to a maximum of 35 bonds selected, with each bond assigned an equal weight as at each rebalance date.
No single issuer shall have a weight in excess of 7% at each rebalance date.