When it comes to the world of investing, one firm says there’s no such thing as a safe bet
A firm has launched a new website that offers a list of “genworth safe” funds, with a $1,000-per-month investment cap.
The Genworth Safe Investment Platform (GSPI) says its “most popular” funds will earn an annual return of 30 per cent.
Its first products are now live in the US and in Europe.
The platform’s founders say it aims to “reduce the risk of loss, reward investors who have the discipline to stick with their investments, and make the most of the world’s biggest moneymakers”.
Genworth said it is offering a range of investments that can help people achieve a “stable and secure retirement”, including “strategic” bonds, long-term interest-free loans and “long-term investment opportunities”.
“Genworth offers a range that can provide investors with access to a range, and diversification, of long- and short-term investments, while providing access to financial products that are relevant to the target financial position,” Genworth Financial CEO and founder John MacLean said.
Genworth is offering the services of Genworth Asset Management (GAM), which is owned by a subsidiary of US investment giant Blackstone.
GAM is offering an annual income of 30 cents per share for every $1 invested, and a 10-year return of 12 per cent per annum.
The fund’s investors also have the option to invest a maximum of $5,000 per year on a range and asset allocation.
Genfield Securities is a “comprehensive” fund that is managed by Genworth’s subsidiary, which is also a wholly-owned subsidiary of Blackstone and operates a US brokerage house.
The company is offering its investors “strategy-specific” products, which include “strategies designed to protect your wealth” and “financial tools to help you achieve your financial goals”.
Genfield Investments, which has more than $3 billion in assets under management, said it aims “to deliver a diversified portfolio of investment opportunities and products that meet the needs of the individual investor”.
“The value of a Genworth investment is determined by the investment objective and asset mix,” it said.
“The underlying strategies and strategies selected by the investor are based on the overall performance of the fund over a long-period of time.”
The company’s website also says “each Genworth fund is managed and operated by a professional, independent financial adviser, which will ensure that your investment is properly valued”.
“As such, Genworth invests in a diverse portfolio of products that allow you to diversify your investment portfolio and the risk-adjusted returns that result from those investments.”
Genworth says the Genworth platform’s investors will be able to select investments from its “stratified portfolio”, including options, dividend-paying securities and bonds, which are not “available to the general public”.
The firm also offers a “simple and easy” way to start investing: “Genies offer a simple and easy way to invest for free, by simply opening an account with our secure secure platform, which enables you to access your funds online.”
Genbank’s “Genie”, which is a fund of the same name, was launched last year in the UK and Australia, offering a “family of products” including mutual funds, dividend paying bonds and other investment products.
It was introduced in June last year.
The firm said its first product, the “Genius”, “provides a range in the asset allocation and investment management space that meets the needs for individuals who are in the investment planning phase of their retirement.”
The firm’s website offers “simple investment products”, including dividend paying securities and other investments, for $0.50 per share.
It said the firm was “working to provide new product offerings to its investor base that are tailored to meet the specific needs of this investor base”.
“These new offerings will be available in the coming months, with more being announced as we progress through our product offerings,” the company said.
The site also said that the firm’s first product was “focused on long- to medium-term investing and is designed to enable investors to access a diversification of financial products, based on their individual financial objectives, to meet their goals”.
It said it was “investing in the Genies” because it was looking for “more sustainable, attractive investments that deliver a return that is consistent and predictable”.
The site did not explain why the firm wanted to “make investing in Genies more sustainable and attractive”.
Genbank has been in Australia for more than three years.
Genbank Securities is based in Melbourne, with offices in Adelaide, Sydney and Perth.
GenBank Investments is based overseas.
A spokeswoman for the US Federal Reserve Bank said the institution was aware of the “genie” investment site and was “committed to ensuring that investment decisions are based upon sound research and analysis”.
“We do not believe that it