Direct property added to SMSF platform
Specialist self-managed superannuation fund (SMSF) administration platform provider, Xpress Super has added a direct property option to its offering.
The company announced this week that the new direct property option would be accessible as part of its broader investment suite, with St George Bank and Macquarie Bank Lending Services having been selected to its lending panel for commercial and residential property.
Xpress Super chief executive Olivia Long said the direct property offering reflected the popularity of the option with self-directed investors as they understood the nature of direct property ownership.
"With ongoing equity market uncertainty, trustees are looking for assets that are perceived to offer reliable income and longer term capital growth'" she said.
"This is reflected in recent ATO figures that indicate direct property in SMSF is a growing asset sector, up from 10.7 per cent in June 2006 to 14.7 per cent as at March 2013."
Long said her company would continue to develop its product, with the next item on the agenda being gearing in equities within SMSFs.
Originally published on SMSF Essentials.
Recommended for you
Financial Services Council chief executive, Blake Briggs, is urging Minister for Financial Services, Stephen Jones, to take advantage of the QAR opportunity to reduce regulatory duplication and ensure advice is affordable.
Former chair of the House of Representatives’ Standing Economics Committee, Tim Wilson, is planning a return to politics after losing his seat in the 2022 federal election.
Morningstar is going to offer research ratings of funds in the $3.5 trillion superannuation sector for the first time in response to demand from financial advisers.
Treasurer Jim Chalmers has opened a consultation into the design of the annual superannuation performance test, canvassing views on a range of reform options.