Bond investments easier for SMSFs
Retail investors, including the trustees of self-managed super funds (SMSFs), are now legally able to invest in Australian Government Bonds, according to Michael Hallinan of SUPERCentral.
Commenting last week, Hallinan said that it was likely that Australian Government Bonds (AGBs) would be available for trading on the Australian Securities Exchange (ASX) as of 21 May 2013.
"Retail investors, including trustees of SMSFs, will be able to buy and sell AGBs on the ASX in a similar way that they can currently buy and sell shares and other securities," he said.
According to Hallinan, the SUPERCentral Governing Rules were recently amended to permit trustees, if they so wished, to invest in ‘GCS Depository Interests' where ‘AGBs' is the marketing name for GCS Depository Interests.
"In (almost) one line, AGBs are interest-bearing securities issued on behalf of the Commonwealth Government which have been structured so that they can be purchased in ‘retail' level amounts," said Hallinan.
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