CBA reveals new direction
With its sights set on becoming one of the top three structured investment providers in Australia, the Commonwealth Bank of Australia (CBA) has kicked off a three-year action plan with the launch of two new products.
The first of the products, Options and Lending or ‘Opals’, enables investors to create wealth with up to 100 per cent borrowed funds and provides an opportunity for self-managed superannuation funds (SMSFs) to take advantage of the new borrowing rules.
The second product is the latest of CBA’s Capital Series offering, Multi Select, which enables investors to select from a menu of three investment strategies targeting Asia, emerging markets and soft commodities while seeking to provide capital growth over a three-and-a-half year term.
Capital Series is a suite of close-ended investments offering exposure to global markets and asset classes that may otherwise be difficult and expensive for retail and SMSF investors to access directly.
CBA has also flagged the expansion of its capital protection capabilities. However, its plans for a CPPI (constant proportion portfolio insurance) product have been placed on hold given the spike in market volatility and the increased risk of deleveraging.
Recommended for you
ASIC has permanently banned a former Perth adviser after he made “materially misleading” statements to induce investors.
The Financial Services and Credit Panel has made a written order to a relevant provider after it gave advice regarding non-concessional contributions.
With wealth management M&A appetite only growing stronger, Business Health has outlined the major considerations for buyers and sellers to prevent unintended misalignment between the parties.
Industry body SIAA has said the falling number of financial advisers in Australia is a key issue impacting the attractiveness and investor participation of both public and private markets.
