Challenger unveils Galaxy master trust
Challenger has finally rolled out the Galaxy master trust after announcing its intention to offer the group’s second master trust offering in November last year.
The Galaxy Wealth Management Service offers provides access to local and international funds, boutique funds, direct share investment and margin lending facilities, including 150 investment options from Challenger’s own investment vehicles and more than 60 investment options from external managers.
The external managers have been selected according to information provided by research houses William M Mercer, Morningstar and van Eyk Research. The master trust service is targeted at sophisticated retail investors with a minimum investment of $5,000.
A feature designed to assist distributors of the master trust service is the centralised administration and reporting system. The Galaxy service platform will be modelled on Challenger’s Synergy master trust which is currently offered via Challenger’s subsidiary, Garrisons Financial Planning.
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