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(April-2004) Colonial expands into boutique funds
ColonialFirst State in late March announced significant enhancements including price cuts to its FirstChoice platform which will be available from May 1.
Colonial First State’s chief executive John Pearce says that as well as the reduced prices, the product will offer 12 new investment options including boutiques.
Colonial is claiming FirstChoice as the fastest-growing platform in Australia with $5.2 billion now under administration.
Explaining the new investment options, Pearce says he is particularly excited about the launch of two exclusive boutique funds — the PM Capital Australian Share Fund and the Geared 452 Australian Share fund.
“The Colonial First State 452 Australian Share Fund returned 341.72 per cent for the year to the end of February, which explains why it has been so popular. Given the appetite for boutique funds at the moment, we also expect a very positive reaction to our new multi-manager boutique investment option,” he says.
AUTHOR
Mike Taylor
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