New SMSF product
Another product has been launched into the market aimed at allowing self-managed superannuation funds (SMSFs) to invest in residential property.
The product is the Power Super Warrant, which is backed by ING Direct and being marketed by Power Super.
The head of distribution at Power Super, Jo Parkinson, described the product as an innovative and very conservative structure that allows SMSFs to invest in an asset class that delivers secure and reliable investment returns over the medium to longer term.
He said the warrant ensured compliance with all aspects of the relevant legislation including satisfying the requirements of the Australian Taxation Office.
“Given the recent volatility in global financial markets and the fact that the value of many Australians’ superannuation has been impacted by this crisis, this product gives more control to SMSFs and provides access to one of the most stable and safe asset classes,” Parkinson said.
He said the product would be offered through professional advisers such as accountants and financial planners and this would add a further degree of security to investors.
AUTHOR
Mike Taylor
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