Aims to provide attractive and regular income distribution, combined with a high level of capital security, expected to exceed income paid on cash and short-dated term deposits.
Assets are invested in a portfolio of senior floati ng rate bonds issued by Australian banks.
Eligible bonds must have amounts outstanding of at least $500 million and a term to maturity of between 1 to 5 years.
80% of total portfolio weight allocated to bonds issued by the following eligible banks: ANZ Bank, Commonwealth Bank of Australia, National Australia Bank and Westpac (equally weighted).
20% of total portfolio weight allocated to bonds issued by the following eligible banks: AMP Bank, Bank of Queensland, Bendigo & Adelaide Bank, Macquarie Bank, Members Equity Bank and Suncorp-Metway.