The reason for the change is the rise in popularity of fixed mortgages, says Head of ASB Group Investments Robert De Luca.
Wednesday, August 10th 2005, 7:19AM
by The Landlord
ASB will be launching a new fund, the ASB Diversified Income Trust, on August 29, he says.
“The mortgage fund is one for the largest funds in New Zealand and it has got to the size where we decided we could only let existing clients put money into it.”
Existing investors will still be able to put into the fund, he says.
The Diversified Income Trust will go through Colonial First State and a fund manager from Colonial will be in New Zealand shortly to talk to advisers.
