Legg Mason launches Significant Investment Visa initiative
Fund manager, Legg Mason has announced it will package its four Significant Investment Visa (SIV) complying fund to provide a solution for financial planners.
The company announced its intention today, saying it had four funds that comply with the SIV requirements - Australian cash, listed property, equity income and real income.
It said its package was already being used exclusively by a global advisory firm, with a second group in discussions.
The company said it had also completed a round of discussions with the Victorian Government to exchange insights on the latest policy developments, implementation and touring initiatives of countries most active in the SIV market.
Legg Mason's Australia head, Annalisa Clark said the company recognised the potential in SIV investors and the growth opportunity they represented for advice firms dealing with overseas clients.
"We aim to be a partner of choice with advisers in the SIV space, and that is evidenced by the traction we are getting with private wealth advice firms seeking solutions for their clients," she said.
The company said Legg Mason Australia was also in discussions with its Asian-based offices about distribution opportunities through their on-the-ground distributors.
Recommended for you
Licensee Centrepoint Alliance has completed the acquisition of Brighter Super’s annual review service advice book, via Financial Advice Matters.
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
