Axa tracks insurance
Axa Australia has launched an online product that enables financial advisers to pinpoint the progress of their clients’ insurance applications. Axa’s application status report delivers real-time information on the progress of insurance applications being examined by Axa’s underwriting team.
It would help to cut underwriting and application times and assist advisers to better communicate with clients, Axa sales and marketing general manager Adrian Emery said. “Advisers will be up to date on exactly what is pending, whether any amendments need to be made or if any additional action is required in order to complete an insurance assessment,” Emery said.
Tyndall upgrades portfolio system
Tyndall has upgraded its web-based portfolio blending tool, the Efficient Portfolio Constructor (EPIC). Tyndall had improved the statistical data and technical information and streamlined the filtering process to make the system more user-friendly, Tyndall head of marketing and sales Philip Galagher said.
EPIC helps advisers to create and optimise portfolios of managed funds. It can be used by the planner as a stand-alone tool for analysis or with a client during the planning process.
ShareInvest beefed up
Direct Portfolio Services has beefed up its flagship ShareInvest wrap by adding a discretionary asset portfolio of wholesale managed funds. The addition aims to keep ShareInvest ahead of competitors in the separately managed account market by offering a combination of direct equity and a wrap-style financial product.
Several small independentlyowned dealer groups are starting to use the wrap. A deal is being cut for members of the Association of Independently Owned Financial Planners to allow them to use the direct equities portfolio for the first time.
ING markets super calculator
ING will hold seminars for financial advisers in March to market an online calculator that evaluates the selling of non-super assets to invest in superannuation. The calculator factors in capital gains tax that may be payable and models net income flows and capital growth of existing and replacement assets.
ING said complex investment and tax scenarios, which normally might take advisers many hours to prepare, could be evaluated quickly using the calculator. Advisers can review their client base and determine those clients that may benefit from a review and full financial plan regarding the transition.
Adviser briefings will be held around the country from February 27 to March 27.
FKP fund oversubscribed
Property fund manager FKP Funds Management has raised $136 million from 17 institutional investors and closed its Core Plus Fund. The fund, which opened in December 2005, was oversubscribed by $65 million and was forced to scale back contributions.
Institutional investors in the fund include industry funds Westscheme and Statewide Superannuation Trust. Other investors include Challenger and the master fund Synergy. The aim of the Core Plus Fund is to buy property from private investors. The value from the core-plus element of the fund comes from buying ‘dog properties’ and transforming them.
Margaret River wine fund opens
The Margaret River Watershed Premium Wine Project is open to retail investors with a minimum investment of $5300 until March 15, 2007.
It is a vine to table wine investment that gives investors ownership of wine production and sale. The managed fund was originally launched in 2006, but a new prospectus has been issued to cover updated Australian Taxation Office product rulings to cover the post-June 30, 2006, to March 2007 financial period.
