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Perennial launches new ETF

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Money Management – Oksana Patron

Perennial Value Management has announced the launch of its new exchange trade fund (ETF), the elnvest Income Generator Fund, aimed at providing investors with a tax-effective income stream. The investment philosophy behind the new fund would be based on the Perennial Value Shares for Income Trust, which was launched in 2005 and generated an eight per cent per annum gross distribution yield after fees, the firm said. The fund would be run by Stephen Bruce and a team comprising 15 investment professionals with an average of 16 years’ experience managing and analysing Australian shares.