Equities OK for income: Pengana
He is to speak at the Heathcote Investment Partners and Investment Store Perfecting Investment Portfolios conference next month, arguing that absolute returns are the best way to meet income needs in retirement.
Kessler said his definition of retirement needs was financial independence. “I invest so I can keep my wife and kids in the manner they’d like to become accustomed to…There’s some people who invest and the point is to try to build assets. Some invest for financial independence in the future.”
He said the biggest difference between the two approaches would be the mandate to maintain capital.
Kessler said his fund was not in the business of beating the market but of preserving capital and making money for its clients. “What do investors really need? Everyone wants triple-digit returns and no risk but what they need is capital preservation and a fair return.”
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