IOOF adds direct shares function to platform
IOOF Portfolio Solutions has stepped up its Pursuit Select Platform with a new Direct Shares function on three of its products.
Nick Everingham, head of product and marketing, IOOF Portfolio Solutions, said advisers have been asking for the addition, which will open up a new set of strategies for IOOF’s clients.
Accessible through the Pursuit Select Personal Superannuation, Allocated Pension and Investment Services products, Direct Shares allows personal super and pension members to invest generally in any security that is part of the S&P/ASX300 index, while clients using Investment Services can invest in all fully paid ordinary and preference shares, stapled securities, exchange-traded funds, interest rate securities and listed investment companies on the Australian Stock Exchange.
IOOF said clients will be able to “participate in any Dividend Reinvestment Plans and the majority of corporate actions offered in respect of the listed securities”.
Everingham said Direct Shares is the biggest addition of the new features added to Pursuit Select over the last nine months.
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