Legg Mason to package SIV funds
Fund manager Legg Mason has announced it will package its four Significant Investment Visa (SIV) complying funds to provide a solution for advisers.
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 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.
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