Aviva today announced investors can avoid spending time out of the investment market when they transfer existing assets into superannuation.
Aviva today announced investors can avoid spending time out of the investment market when they transfer existing assets into superannuation.
With Aviva’s fully owned platform, Navigator now allowing in specie contributions into the Navigator Personal Retirement Plan, investors can transfer assets into the platform without actually selling the underlying investment product.
As the end to the A$1 million transitional contribution cap approaches on 30 June, many investors are looking to take advantage of this and are examining their current investment strategies to ensure they make the most of this opportunity.
Andrew Barker, Aviva’s general manager wealth management products said the market is very aware of the opportunities the A$1 million transitional contribution cap provides. Financial advisers are actively looking to transfer investors’ existing assets, particular shares, into superannuation.
Aviva has responded to considerable demand from financial advisers for this new facility.
“We have accelerated this development in response to demand from financial advisers and clients. Fees are cut, and investment risk, particularly relevant in these volatile times, is reduced,” he said.
“This new feature has removed one of the barriers to investing in super and it’s time to minimise all of these issues. Platforms that don’t offer this feature are hampering the attractiveness of investing in super as market risk and transaction cost can be significant problems,” he said.
“Aviva is committed to enhancing our offer and we believe the May 2006 Budget has opened up significant opportunities for the industry as a whole. While other platforms may be struggling with the compulsory legislative modifications, we are continually looking at opportunities to further enhance our offering,” said Andrew.
For further information on in specie transfers into the Navigator Personal Retirement Plan please contact a financial adviser.
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For further information please contact:
Tim Cobb
General Manager Marketing and Public Relations
Phone: (03) 9829 8509
Mobile: 0418 529 387
Notes to editors:
- Aviva Australia is a group of two specialist financial services companies: Navigator and Norwich Union Life Australia Ltd. Portfolio Partners is the Australian funds management arm of Aviva plc. Through these companies we provide products and services in the areas of wealth creation and wealth protection for more than 300,000 customers throughout Australia.
- Aviva is one of the leading providers of life and pensions to Europe with substantial positions in other markets around the world, making it the world’s fifth largest insurance group based on gross worldwide premiums at 31 December 2005.
- Aviva’s principal business activities are long-term savings, fund management and general insurance, with worldwide total sales of Ł41.5 billion and assets under management of Ł364 billion at 31 December 2006.
- The information in this document reflects NULIS Nominees (Australia) Limited's ("NULIS") ABN 80 008 515 633 AFSL 236465 RSE L0000741 understanding of existing legislation, proposed legislation, rulings etc as at the date of issue. In some cases the information has been provided to us by third parties. While it is believed the information is accurate and reliable, this is not guaranteed in any way. The information given in this document is of a general nature and has not taken into account the investment objectives, financial situation or particular needs of any particular person and it is not a substitute for professional advice. A PDS is available from NULIS or your financial adviser. Applications to invest in investment product(s) through the investor directed portfolio service ("IDPS"), operated by Navigator, must be made by completing the application form attached to the applicable IDPS Guide Offer Document and Investment Allocation Authority. Before making an investment decision on the basis of the information above, a prospective investor needs to consider, with or without the assistance of a professional adviser whether the information is appropriate in the light of their particular investment needs, objectives and financial circumstances. Aviva does not receive any remuneration in relation to the provision of information available from this press release which is of a general nature only.