Australian Unity thaws mortgage fund freeze
Australian Unity Mortgage Trusts has increased the standing order monthly withdrawal option on its Mortgage Income Trust and Wholesale Mortgage Income Trust from 2 per cent to 3 per cent per month, subject to a $2000 minimum.
Investors can also opt for a one-off withdrawal request for their entire account balance, which the manager will meet on a pro rata basis (meaning investors could potentially redeem greater than three per cent depending on how many other requests are placed).
Standard & Poor’s Fund Services has maintained its two-star ratings on the two funds.
Recommended for you
As the industry navigates the fallout from recent product failures, two major AFSLs have detailed their APL selection process and relationship with research houses, warning a selection error could “destroy” a licensee.
The impending retirement of financial advisers in their 50s could see the profession face significant succession challenges over the coming decade and younger advisers may not be the answer.
With a third of AFSLs being solo advisers, how can they navigate key person risk and ensure they are still attractive propositions for buyers when it comes to their succession planning?
A quarter of advisers who commenced on the FAR within the last two years have already switched licensees or practices, adding validity to practice owners’ professional year (PY) concerns.
