Progeny AM launches multi-asset ETF

‘Optimised Passive Income 60/40' is available via advisers only, not direct to clients and has an all-in fee of 0.96%. It is designed for investors who wish to have exposure to a range of global asset classes. It has an annual target yield of 3% but with modelled annual drawdown in any 12-month period, not expected to exceed 7%. Progeny will look after fund selection, with market exposure offered via up to 14 iShares ETFs. Winterflood Business Services provides custody and trading services. It is expected to allocate around 60% globally to equities, private equity, property, and ar...