Good Returns will provide you with covearge of the regime once it is released.
Commerce minister Lianne Dalziel has indicated the regulations will come into effect quite soon after being announced and that that advisers won't have a lot of time to prepare for the changes.
Mint's new real estate trust
Mint Asset Management has added a new fund to its portfolio. Its latest offering is called a Real Estate fund and it will invest in property securities listed in Australia and New Zealand.
The fund can hold up to 60% of its assets in Australian companies and can also invest in property related stocks such as ports and airports.
The portfolio manager is Shane Solly, who has run these types of funds previously for ING.
The fund is PIE compliant and aims to generate returns of 3% above the gross return of the 90-day bank bill rate.
Pengana fund moves to soft close
Existing investors will be able to continue to add to their investment into the fund in perpetuity.
The fund's managers, Steve Black and Ed Prendergast, have made it very clear since inception of the fund that they would not be in a position to manage more than 0.5% of the relevant Australian small cap index. The fund size is now approximately $AUD 500,000 in size, and although below the 0.5% threshold, the managers believe this is an efficient closing point in terms of managing the fund going forward.
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