Boutique financial services group Calliva has been given a rating for its new super product by Standard and Poor’s Fund Services (S&P).
The Calliva SuperAccess has been given an investment grade rating by the researcher.
S&P’s product review said the fund’s objective achieved the transfer of an investor’s commercial property into the control of an investor’s self-managed superannuation fund.
However, the research said investors should be aware the structure would trigger significant property acquisition costs, including ad valorem stamp duty on the greater of the transfer price or market value when the investment was made.
S&P has not undertaken legal or taxation due diligence in regard to this product because these aspects are outside of the scope of this rating.
It strongly recommends investors seek taxation and legal advice, as well as financial advice, before investing in this product.
Applications for Calliva’s SuperAccess opened on May 18 and will close on March 4, 2008.
