AUI introduces monthly redemptions on Mortgage Income Trust
Australian Unity Investments (AUI) has introduced monthly redemptions for its Mortgage Income Trust (MIT), the trust’s first regular redemption facility since the introduction of the Government’s bank guarantee last year.
Investors will be allowed to withdraw up to 1 per cent of their total investment in the fund each month, according to AUI.
AUI has allowed investors two redemption offers in the trust since December last year, AUI head of mortgages Roy Prasad said.
However, Prasad said continued stabilisation of liquidity levels in the fund has now allowed for a capped monthly redemption policy while at the same time allowing for appropriate management of the fund.
Prasad said mortgage funds continue to be a very attractive option for investors compared to other fixed income alternatives, particularly in view of low interest rates.
Recommended for you
Financial Services Minister, Stephen Jones, has assured the cost and time to enter the financial advice profession will soon be halved, as shadow treasurer Angus Taylor pledges to reach 30,000 advisers.
The positive results of the latest financial adviser exam have helped the advice profession reach 15,600 yet again, according to Wealth Data analysis.
Financial advice firms have told Adviser Ratings they are planning to increase their compliance spend by almost a third, including on enhancements to their cyber security which ASIC has identified as an enforcement priority.
The digital advice platform is officially launching into the financial advice sector, offering up its services to practices as a means of engaging with the next generation of clients.
