More choice for MLC advisers
MLC will give greater choices to its financial planners following a decision to bump up its offerings in Australian equities and property. National Australia Bank’s wealth management arm has changed its approved product list (APL) to include more specialist funds. Specialist funds added in the Australian equities space include the Acadian Australian Equity Long Short Fund, Challenger Select Australian Share Fund, Pengana Emerging Companies Fund, Perpetual Geared Australian Share Fund and Perpetual Share-Plus Fund. The AMP Capital Sustainable Share Fund has also been added as an ethical offering.
MLC has added two Australian property securities funds – the Challenger FM Property Securities Wholesale Fund and Merrill Lynch Combined Property Income Fund. It has also added the Challenger Australian Share Fund, Concord Australian Share Fund, Vanguard High Yield Fund and Zurich International Shares Fund. In addition, accountants can now download data files from the MLC website that contain all transaction details for self-managed superannuation fund clients who invest via the MasterKey Custom Investment Service.
Plum launches allocation tool
Fund manager Plum Financial Services has designed an online asset allocation tool to help clients make superannuation investment choices. The tool is available to members of Plum’s website. Members can select, change and reselect options in Plum’s investment portfolio to arrive at a sample asset allocation that can be compared against other investor profiles.
Suncorp creates hybrid platform
Financial services company Suncorp has launched a hybrid platform called Margin Trader to bring margin loans and share trading under one online platform. Suncorp will refund transaction fees, giving a rebate up to $500 a month in online brokerage fees when a loan balance exceeds $250,000. It offers lower interest rates as a margin loan reaches certain balance thresholds. The product includes over-the-phone service teams, market research, SMS stock alerts, and stoploss and conditional order functions.
Challenges buys stake in Japanese property
Challenger Financial Services Group is giving retail investors access to the Japanese retail property market. The Challenger Kenedix Japan Trust was launched last week on the Australian Securities Exchange following an initial public offering that had a capital raising of $225 million. The fund is investing in 12 properties in urban centres across the country. An additional $75 million callable in February 2008 will fund the acquisition of further assets. Challenger is a co-investor in the fund, acquiring 7.5 million units, equivalent to a 5 per cent stake in the trust.
