ANZ targets SMSFs with protected lending product
ANZ has launched a protected lending product targeting high-end self-managed super funds, wholesale investors and executives with employer-related share exposures.
ANZ Cobalt allows investors to protect and borrow against the value of a share portfolio or individual shares, borrow to purchase a new share portfolio or generate additional income using equity options.
The product also allows investors to access US listed shares and exchange-traded funds via protected lending.
The group margin lending had been utilised by many investors as a means of increasing their exposure to the share market.
"In both cases investors are relying on a geared exposure giving them increased exposure to potential capital gains, while income from the underlying asset, either rent or dividends, is typically used to offset any expenses, including interest-related costs," ANZ stated.
"Protected lending via ANZ Cobalt offers investors with a positive view on the market the ability to gear into shares but with the peace of mind that if the underlying share value falls below the protection level at maturity, that share will be protected up to the protection level."
Recommended for you
Results are out for the latest sitting of the ASIC financial advice exam, with the pass rate falling for the second consecutive sitting.
Adviser losses for the end of June have come in 143 per cent higher than the same period last year, and bring the total June loss to over 350.
ASIC’s enforcement action is having an active start to the new financial year, banning a former Queensland financial adviser for 10 years in relation to fees for no service conduct.
ASIC has confirmed the industry funding levy for the 2024–25 financial year, and how much licensees can expect to pay.
