New trust for Indigenous communities

Perpetual/Indigenous-community/trust/

1 June 2016
| By Oksana Patron |
image
image
expand image

Perpetual has launched its new native title and community trust to provide investment support to smaller Indigenous communities.

The new trust is expected to help open up professional native title management to communities for whom a more traditional model has become impractical.

Perpetual senior manager, Community and Social Investments, John Hender, said Perpetual supported the Aboriginal and Torres Strait Islander communities to manage their community funds through tailored trust structures.

"We are pleased to broaden out this offering through this unique cost-effective approach."

The new trust will offer minimal ongoing fees along with a straight-forward set-up and no establishment fees while Perpetual, as trustee, will take care of the trust administration, compliance, auditing, tax, financial and regulatory reporting.

"This structure allows us to reduce the cost via two key variables that impact cost-effectiveness of a native title trust — community contact and consultation, and distribution frequency — while retaining flexibility to meet communities' differing needs," Hender said.

Additionally, Perpetual has launched its second Reconciliation Action Plan (RAP) aimed at building relationships with Aboriginal and Torres Strait Islander clients, suppliers, employees and communities.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

1 month 3 weeks ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

2 months ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

4 months ago

Entireti has unveiled the new name for the AMP financial advice businesses that it acquired last year....

4 weeks ago

A Sydney financial adviser has been permanently banned from providing any financial services, with the regulator deriding his “lack of integrity, trustworthiness and prof...

2 weeks 6 days ago

Minister for Financial Services, Stephen Jones, has provided further information about the second tranche of the Delivering Better Financial Outcomes (DBFO) reforms....

1 week 5 days ago

TOP PERFORMING FUNDS