Navigator today announced changes to the range of investment options available via its Personal Investment Plan (PIP) and Personal Retirement Plan (PRP) services.
Navigator today announced changes to the range of investment options available via its Personal Investment Plan (PIP) and Personal Retirement Plan (PRP) services.
From mid July, four funds will be removed from the service. They are:
- BT Wholesale Future Goals Fund
- Quantitative Investments Alpha TE2 Fund
- Challenger Small Companies Fund
- Investors Mutual Future Leaders Fund
The removal of the Challenger and Investors Mutual funds is due to both being closed by each manager to new investment at the end May. The other removals are due to low levels of support and an element of duplication in BT - where there is a similar fund within the same investment category more highly utilised by financial advisers.
"We like all funds on the investment list to meet the needs of both advisers and investors and to receive a good level of support. Part of our ongoing assessment is to ensure this continues to be the case by monitoring the support of each fund. If a funds fails to attract adviser support then it may be removed," said Stuart Fechner, Navigator research manager.
Funds to be added to the Navigator list are:
- Challenger Wholesale Boutique Australian Share Portfolio
- Citigroup Emerging Markets Trust
- Colonial First State 452 Australian Share Fund
- Credit Suisse Asset Management Australian Small Companies Fund
- Deutsche Australian Small Companies Fund
- EQT SGH Absolute Return Trust
- ING Wholesale Emerging Markets Trust
- Perpetual’s Wholesale Geared Australian Fund
- PM Capital Enhanced Yield Fund
"These additions were in response to feedback from advisers and ensure suitable choice is provided across a range of different asset classes," said Stuart.
Navigator will offer a choice of over 160 different investment options. The range and diversity of the additional funds demonstrates the wider choice a full service platform offers.
When making additions to the Navigator list it is essential to identify quality funds, as well as fund managers who comply with our desired level of service standards.
"These fund additions increase the choice of boutique fund managers, ensuring adequate choice of small company funds and providing access to emerging market funds," said Stuart.
An increasing interest in boutique fund managers has been seen this year. "The additions of the Colonial First State Wholesale 452 Australian Share Fund, PM Capital Enhanced Yield Fund, Challenger Wholesale Boutique Australian Share Portfolio and EQT SGH Absolute Return Trust, all provide access to quality boutique investment funds," added Stuart.
"The EQT SGH Absolute Return Trust is not managed to a low or specific tracking error target range - products of this nature have equally seen a growing level of interest from advisers using the Navigator platform," Mr Fechner added.
After the recent closure of the Challenger and Investors Mutual Small Companies Funds, it was important to continue providing adequate choice and diversification in the small companies sector. "The addition of both the Credit Suisse Asset Management Australian Small Companies Fund and the Deutsche Australian Small Companies Fund maintains a choice of four small company funds," Fechner said.
In a further enhancement to the Navigator fund list, we will be adding the new category of ‘International Equity - Emerging Markets’ offering two funds - the Citigroup Emerging Markets Trust and the ING Wholesale Emerging Markets Trust.
"Being a full service platform provider allows us to offer funds of a specialist nature, such as Emerging Markets, rather than simply funds representing the traditional asset classes. This level of choice is important as it provides advisers with the diversity and flexibility of fund choice to construct a portfolio meeting specific needs of an individual investor," said Stuart.
Stuart Fechner is available for interview on 0407 839 080.
For further information, please contact:
Simon Morgan, Group General Manager, Public Affairs
(03) 9829 8892
0407 966 632
Notes to editors:
- Aviva Australia is a group of two specialist financial services companies: Navigator and Norwich Union Life Australia Ltd. Portfolio Partners, the Australian funds management arm of Aviva plc, is a sister company. Through these companies we provide products and services in the areas of wealth creation, wealth management and wealth protection for more than 300,000 customers throughout Australia.
- Globally, Aviva Australia is part of Aviva plc, the world’s seventh largest insurance group, the largest insurer in the UK and one of the top five life companies in Europe. Aviva was formed in May 2000 through the global merger of CGU plc and Norwich Union plc.
- Aviva is a leading provider of life and pensions products to Europe and has substantial businesses elsewhere around the world. Its main activities are long-term savings, fund management and general insurance. It has premium income and investment sales from continuing operations of A$66.08 billion, and more than A$472 billion of assets under management (as at 1 January 2004). The group has more than 56,000 employees and 30 million customers worldwide.
- The information in this document reflects Navigator Australia Limited's ('Navigator’) 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. Applications to invest in a financial product issued by Navigator, or any of its related entities, must be made by completing the application form attached to the applicable Product Disclosure Statement ("PDS"). A PDS is available from Navigator or your financial adviser. 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.