The present invention is directed to a magnetic structure including a first seed layer, a second seed layer formed on top of the first seed layer, and a third seed layer made of chromium or iridium formed on top of the second seed layer. One of the first and second seed layers comprises cobalt, iron, and boron. The other one of the first and second seed layers is made of iridium, rhodium, cobalt, platinum, palladium, nickel, ruthenium, or rhenium. The magnetic structure further includes a magnetic fixed layer structure formed on top of the third seed layer and having an invariable magnetization direction substantially perpendicular to a layer plane thereof. The magnetic fixed layer structure includes layers of a magnetic material interleaved with layers of a transition metal. The transition metal may be nickel, platinum, palladium, or iridium.