The two new funds will be available exclusively to JBWere’s wholesale clients. Credit: UnImages/Shutterstock.

National Australia Bank’s (NAB) wealth management subsidiary, JBWere, has expanded its offerings with the launch of two new active fixed income products.

Powered by UBS Asset Management (UBS AM), the new products are tailored for JBWere’s wholesale clients, providing access to managed defensive assets amid growing demand for sophisticated fixed income solutions.

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The new product suite comprises UBS JBWere Australian Credit Fund, focusing on domestic credit, as well as the UBS JBWere International Credit Fund, offering a global credit option.

From this month, both funds will be available exclusively to JBWere’s wholesale clients.

NAB private wealth executive and JBWere CEO Michael Saadie said that the two fixed income funds are intended to offer valuable and timely solutions for clients seeking defensive components to a balanced, multi-asset portfolio.

“Australian investors allocated a record A$6.26bn to managed fixed income funds in the first half of the year. Now, with the US Federal Reserve easing and inflation moderating, there is a timeliness to clients having access to expertly managed portfolios that deliver both global and domestic exposure and a strong defensive profile,” Saadie added.

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The products, which will be structured as an Australian Unit Trust, are planned to be and integrated into the JBWere Multi-Asset Platform (MAP).

Saadie noted: “Our clients will benefit not only from UBS AM’s renowned investment expertise and oversight in this space but also from the competitive investment management fees we’ve been able to secure for this exclusive product offer.”

Earlier this year, NAB closed the sale of its New Zealand wealth management businesses to newly established FirstCape Limited.

NAB and Jarden own 45% and 20% stakes respectively in FirstCape while funds managed by Pacific Equity Partners (PEP) hold a 35% interest.