On 24 November 2012, the Federal Government introduced a new visa referred to as the ‘Significant Investor Visa’ (subclass 188) which enables migrant investors who invest $5 million in complying Australian investments for (at least) 4 years, the ability to secure permanent residence.
Under the new visa rules, the One Cash Management Fund (OCMF or the Fund) qualifies as a ‘complying investment’. OCMF was registered with Department of Immigration and Citizenship as a complying investment on 5 February 2013.
Investors applying under this visa will need to prove that the funds they are investing in are compliant as per the new visa rules. One Managed Investment Funds Limited has completed the Declaration Form 1413 for applicants applying under the visa, which provides the requisite proof of the One Cash Management Fund’s complying status.
One Cash Management Fund
The One Cash Management Fund is one of Australia’s leading cash management funds. Since inception (December 2010), the Fund has delivered investors an annualised premium, after fees, in excess of 0.7% over the Reserve Bank of Australia Cash Rate. Focussed on capital preservation and stable income, the Fund reduces risk by holding deposits with a variety of Australian Authorised Deposit Institutions (authorised under the Banking Act 1959) and negotiating superior rates by pooling investors’ funds. The One Cash Management Fund pays monthly income distributions and offers daily liquidity. The Fund is an unregistered managed investment scheme which is only open to wholesale investors. Deloitte Touche Tohmatsu have been the auditor of the Fund since inception.
Please also refer to our Significant Investor Visa page on this website where there are more details concerning the operation of the new Significant Investor Visa.
One Investment Group is pleased to already have a Significant Investor Visa complying managed investment scheme and is working with a number of external managers to launch additional complying funds. Should you wish to launch a Significant Investor Visa complying fund or are looking to invest in a Significant Investor Visa complying fund, please contact us.