Macquarie Bank offers new SMSF product
Macquarie Bank has expanded its offering into the self-managed superannuation fund (SMSF) arena, announcing this week the launch of an SMSF property loan which it says is intended to provide direct exposure to residential investment property assets.
Announcing the launch of the new product this week, Macquarie Adviser Services head of mortgages product James Casey said it had been developed in response to growing demand for property assets in SMSFs.
"One of the key reasons SMSFs are growing at such a rapid rate is that they offer the flexibility for people to choose where their money is invested," he said.
"Currently, 15 per cent of the assets in SMSFs across Australia are allocated to real estate, and as the number of SMSFs grows, we also expect the focus on real estate as an SMSF investment to grow."
Macquarie's SMSF property loan is a limited recourse loan available to Australian residents with an existing SMSF or who are currently in the process of establishing an SMSF, or to SMSFs wishing to refinance a property loan from another lender.
Recommended for you
AMP is to launch a digital advice service to provide retirement advice to members of its AMP Super Fund, in partnership with Bravura Solutions.
Unveiling its performance for the calendar year 2024, AMP has noted a “careful” investment in bitcoin futures proved beneficial for its superannuation members.
SuperRatings has shared the median estimated return for balanced superannuation funds for the calendar year 2024, finding the year achieved “strong and consistent positive” returns.
The second tranche of DBFO reforms has received strong support from superannuation funds and insurers, with a new class of advisers aimed to support Australians with their retirement planning.
