NEWS

Redundancy Funds or Worker Entitlement Funds are established for funding redundancies and other employee entitlements and are managed investment schemes, which are operated by a corporate trustee and governed by a trust deed. ASIC Corporations (Employee Redundancy Funds Relief) Instrument 2015/1150 provides relief for the requirement of these funds to be registered until October 2018.

As part of the enhanced fee disclosure regulations and ongoing reforms, issuers must meet certain requirements when disclosing fees and costs in Product Disclosure Statements (PDSs) and periodic statements to increase transparency for consumers. To address concerns in relation to how the industry participants were interpreting concepts such as “indirect costs” and costs associated with…

On 3 December 2015, the Tax Laws Amendment (New Tax System for Managed Investment Trusts) Bill 2015 (Bill) was introduced into Parliament and is signalled as a significant step to help Australian funds compete internationally. The Bill follows the Exposure Draft legislation released earlier this year and if enacted, will replace the existing taxation regime…

Introduction In 2006 the Qualified Domestic Institutional Investor (QDII) scheme was launched to allow mainland Chinese investors to invest offshore through designated Chinese financial institutions within set investment restrictions and foreign exchange quotas. Since the implementation of the QDII scheme 10 years ago, the Chinese government has been discussing the launch of the Qualified Domestic…

Current Status All custody agreements are required to comply with new content requirements from 1 November 2015 as set out in Regulatory Guide 133 ‘Managed investments and custodial or depository services: Holding assets’ and associated ASIC Class Orders dated November 2013 (RG 133). RG 133 updates existing measures to: apply minimum standards to asset holders…

Introduction Peer-to-peer and business-to-business lending primarily use funding from sources other than traditional credit providers or banks to fund loans to borrowers. These models are sometimes referred to as ‘marketplace lending’ as the market determines the price of the credit, rather than a closed, one-sided traditional credit provider e.g. a bank. The markets for these models…

Introduction In early June 2015 the Federal Government released the Board of Taxation’s report on tax arrangements applying to collective investment vehicles in Australia (Board). If the Board’s recommendations are accepted it will fundamentally change the funds management industry in Australia. In short, the Board’s report recommends the breaking of the near monopoly of the…

Introduction Figures from CBRE Research estimate that the total outbound investment into property from Asia totalled US$40 billion in 2014, representing a 23% increase on 2013 figures. This activity is largely driven by five main Asian countries, with Singapore representing the number one source of outbound capital, followed by China, Hong Kong, Malaysia and Taiwan….

On 2 May 2015, the Treasurer announced proposed changes to the foreign investment regime aimed at strengthening Australia’s Foreign Investment Framework. The Government stated that the proposed changes are intended to bring about a more modern and simpler foreign investment framework, with the opportunity for consultation of options to simplify the system going forward. The announced…

One Investment Group is pleased to provide a submission on: (a)        Exposure Draft – Tax Laws Amendment (New Tax System for Managed Investment Trusts) Bill 2015; and (b)        Exposure Draft – Managed Investment Trusts – Explanatory Material for the Bill. As the trustee and/or investment manager of numerous Managed Investment Trusts (MITs) we have submitted…