Macquarie targets Significant Investor Visa market
Macquarie Specialist Investments (MSI), a Macquarie division, has this week launched a new product — the Macquarie SIV Cash Fund.
Announcing the launch, the company described the new product as being "an investment solution that caters exclusively to the needs of investors who are applying for the Significant Investor Visa (SIV)".
The Significant Investor Visa is a permanent residency visa that was launched by the Australian Government at the end of last year and developed for individuals seeking investment migration.
Commenting on the new product, MSI head Peter van der Westhuyzen said it had been designed to offer investors wishing to migrate to Australia the freedom to invest in a fund based on their preferred level of risk and potential return.
He said a further three Macquarie SIV Funds were planned. Once these were launched, investors would be able to choose from one of four investments — cash, conservative, balanced and growth — that offered varying degrees of risk and return.
The MSI announcement said that, in accordance with the SIV requirements, each fund would comprise holdings in underlying funds that invest in Australian assets including cash, fixed interest, real estate and equities.
Recommended for you
A financial advice firm has been penalised $11 million in the Federal Court for providing ‘cookie cutter advice’ to its clients and breaching conflicted remuneration rules.
Insignia Financial has experienced total quarterly net outflows of $1.8 billion as a result of client rebalancing, while its multi-asset flows halved from the prior quarter.
Prime Financial is looking to shed its “sleeping giant” reputation with larger M&A transactions going forward, having agreed to acquire research firm Lincoln Indicators.
An affiliate of Pinnacle Investment Management has expanded its reach with a London office as the fund manager seeks to grow its overseas distribution into the UK and Europe.
