Australia's Commonwealth Bank has launched a tracker deposit-style product through its wealth management unit, in response to demand from investors for a low-risk wealth preservation tactic. 

The product will be sold through financial planners in the bank's Colonial division, according to Australian daily The Brisbane Times. The launch underscores the trend of banks moving away from global finance market-related asset classes following the 2008 financial crisis, in a bid to diversify their funding pools. 

The deposit offers a one percentage point margin higher than the official cash rate, thereby placing it alongside some of the higher interest online savings products available, according to the report. It has a life span of six years and, although functioning like a deposit, will be classified as an investment without a government guarantee.

During May, Commonwealth Bank saw a 0.02 per cent rise in its business sales indicator, signalling a flat performance for first several months of 2011. The bank said that investment towards non-bank related activities is rising as clients increasingly prefer to deal with experience-based spending.