IOOF funds get Significant Investor Visa qualified
IOOF has succeeded in having three of its IOOF Multimix funds qualified as Significant Investor Visa complying investments.
The company announced this week that the relevant funds were the IOOF MultiMix Australian Shares Trust, the IOOF MultiMix Cash Enhanced Trust and the IOOF Cash Management Trust.
The Significant Investor Visa was introduced in November 2012 to attract potential migrants with a demonstrated history of success in business and investment.
It allows foreign high-net-worth investors to invest $5 million into investments that meet the SIV guidelines for a minimum of four years before being eligible to apply for permanent residency in Australia.
Commenting on the development, IOOF general manager, distribution, Renato Mota said the company was pleased to leverage off its investment capabilities to deliver the solution.
Recommended for you
The Australian Financial Complaints Authority has reported an 18 per cent increase in investment and advice complaints received in the financial year 2025, rebounding from the previous year’s 26 per cent dip.
EY has broken down which uses of artificial intelligence are presenting the most benefits for wealth managers as well as whether it will impact employee headcounts.
Advice licensee Sequoia Financial Group has promoted Sophie Chen as an executive director, following her work on the firm’s Asia Pacific strategy.
The former licensee of Anthony Del Vecchio, a Melbourne adviser sentenced for a $4.5 million theft, has seen its AFSL cancelled by ASIC after a payment by the Compensation Scheme of Last Resort.
