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Susan Edmunds
Susan Edmunds
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Van Eyk shareholder wants out

Monday 25th of August 2014

Macquarie Investment Management has moved to terminate the four  van Eyk Blueprint funds that were suspended after being invested in an illiquid asset.

The funds are the van Eyk Blueprint International Share Fund, van Eyk Blueprint Capital Stable Fund, van Eyk Blueprint Balanced Fund and the van Eyk Blueprint High Growth Fund.

Chief executive Mark Thomas was in New Zealand this week, and met the FMA and van Eyk's business partners to talk about strategies.

"At the moment what we're working on is how do we return money, we're cashing up and returning liquid funds where appropriate, retrieving assets through a legal process."

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@first time caller - I can see the complexity you highlight, but as above, investors should be able to see what they are paying without having to reference multiple documents. Investment admin can track and report deductions for tax, withdrawals, fees et al, would be /should be straightforward to aggregate advice fees into costs at member level... at least I hope so.
15 hours ago Goldcard
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@goldcard - how would you propose that a fund manager calculates the TER to include adviser fees given not all clients pay them and different advisers charge different fees, not to mention some advisors charge different fees to different clients? The advice fee gets disclosed in the adviser's disclosure statement and the statement of advice, so the client can add that to the published TER of the fund they are invested in to see how much they are paying overall.
1 day ago First time caller
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Schedule 4 of the FMCA regs 2014, particularly clauses 2(1) and 53(3) provide the basis for excluding individually charged advice fees from the statutory TER. This was introduced with the best of intentions, but now it is little more than an invisibility cloak for deductions from member accounts.
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