NZ asset manager launches fund in Australia

Milford Asset Management has launched its Dynamic Fund (AU), an open-ended, Australian small and mid-cap equity fund designed to outperform the S&P/ASX Small Ordinaries (TR) Index, according to a statement.

The fund is the Australian Unit Trust version of Milford’s Dynamic Fund in New Zealand.

“We believe there are attractive opportunities at the small cap end of the market, which tends to be less efficient and not as widely researched,” said fund co-portfolio manager Michael Higgins.

“With a dedicated Australian investment team, our goal is to deliver strong returns for our investors while remaining aware of the risks inherent in the space in which we invest.”

Milford said the launch continues the momentum generated in Australia with the Milford Australian Absolute Growth Fund and continues Milford’s commitment to deliver investment options for Australian investors.

The Milford Dynamic Fund (AU) will be open to further investment, targeting up to $350 million, Milford said.