Skyring Asset Management has appointed a new head of distribution.
Sam Benjamin joins Skyring from Smarter Money Investments, where he was an investment consultant. Prior to that, he was a regional sales manager in New South Wales and Western Australia for Aberdeen Asset Management, a wrap account manager at BT Financial Group and a relationship manager at Westpac.
Skyring chief executive David Mardell said Benjamin's "maturity, experience, and passion for sales strategy and customer service aligned perfectly with the direction I envisage for Skyring."
Skyring is the re-branded parent company of Skyring Asset Management, Mardell Financial Centre, MySMSFOnline and Property 24/7. It provides asset management, chartered accountancy, self-managed super fund administration and real estate portfolio services.
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The group is due to launch a fixed income vehicle on March 20. The Skyring Fixed Income Fund, according to a spokesperson, "has been established to meet a need created by tighter lending in Australia's commercial sector in the wake of the more restrictive Basel 3 requirements."
"Having raised capital for multiple individual projects over the past decade, the team at Skyring have decided to offer investors the ability to benefit from their wealth of experience," Skyring added.
"The fund invests exclusively in first mortgages of Australian commercial developments and business assets. All of which are subject to stringent lending guidelines. Investors will benefit from a consistent monthly income payment. The fund will be targeting a return of 6.5% to investors in its first year."
The fund will be made available to retail, wholesale and institutional investors with an ongoing 77 basis-point management expense ratio.