Master trusts versus the wrappers
Article Abstract:
The Australian Securities and Investments Commission (ASIC) wants to clear up any confusion investors may have about discretionary master trusts and wrap accounts when choosing a portfolio management service. ASIC is proposing standard rules for the operation of those trusts and accounts. Wrap accounts operate as a system that wraps around a portfolio of investments, whereby investors retain legal ownership of listed shares and trusts. Discretionary master trusts offer similar services, but investors do not hold a legal or beneficial interest in the investments.
Publication Name: Business Review Weekly
Subject: Business, general
ISSN: 0727-758X
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
More protection for investors in solicitor's mortgages
Article Abstract:
A new Australian Securities and Investments Commission (ASIC) law to regulate mortgage scheme solicitors and protect investors may force some lawyers to stop offering the schemes. Under the Managed Investments Act of 1998, a mortgage-scheme operator must be a public company and must be licensed as a responsible entity. Also, the mortgage schemes themselves must be registered. The new regulation begins on November 1, 1999.
Publication Name: Business Review Weekly
Subject: Business, general
ISSN: 0727-758X
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
Capital gains mean tax bills for investors in unit trusts
Article Abstract:
Top-rate taxpayers may be disinclined to invest in unit trusts because when the trust sells or realizes its investments, it is required by law to distribute any net capital gains. These realized gains, which are subject to capital gains tax, are distributed as income. Some analysts feel the requirement to distribute realized gains is a major tax inefficiency in the unit trust structure.
Publication Name: Business Review Weekly
Subject: Business, general
ISSN: 0727-758X
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: General Nutrition sets accord to open vitamin shops in Rite Aid drugstores
- Abstracts: Everest Capital has $1.3 billion loss, affecting some university endowments. Ellington sold mortage-backed units for $1 billion to satisfy margin calls
- Abstracts: Small Internet providers survive among the giants. Dutch auction fails to enthuse Internet stock investors. Big stakes in on-line job listings
- Abstracts: The new dynasty: Australia is fast becoming a magnet for investment by overseas Chinese families. Rivals eye 3G technology
- Abstracts: A shake-up in the making. Waiting for the smoke to clear. Australia's most admired