Navigator today announced the inclusion of Perpetual’s Protected Australian Share Fund to its Personal Investment Plan and Personal Retirement Plan services.
Navigator today announced the inclusion of Perpetual’s Protected Australian Share Fund to its Personal Investment Plan and Personal Retirement Plan services.
Navigator research manager, Stuart Fechner said Navigator is the first platform provider to make the fund available. The fund opened for investment on 25 October and Navigator had assessed and formally approved the fund for addition on 27 October. The last day for Navigator investments is 2 December 2004.
"Funds with a limited offer period such as this provide a challenge in the capacity and efficiency of a platform provider to conduct the required assessment and approval quickly. It's pleasing that we're able to do this and allow advisers as much of the offer period timeframe as possible to consider a fund for their clients portfolio."
There is quite a range of structured products now available in the market offered by several providers, each with different terms and features. Perpetual’s current offer of their Protected Australian Share Fund is somewhat less difficult for most investors to understand.
"Many capital protected funds are structured to invest into a detailed mix of assets, often including derivatives and related hedge fund strategies. In many instances this can be difficult for the end investor to understand and to reach a desired level of comfort before they may invest.
"The Perpetual Fund has a more easily understandable investment structure when compared to many other capital protected funds and invests into Australian shares with option protection. This investment into traditional asset types would be much more familiar and understandable to the end investor," said Stuart.
Navigator offers a fund list with over 160 investment choices. There is a broad range of investment managers and asset classes along with a wide range of differing investment style.
"The management of our fund list is an important part of the overall Navigator offering. The addition of the Perpetual Fund reflects our continual assessment of the fund list to ensure it is up to date with market and product trends and the appropriate range of choice is available for financial advisers and their clients," says Stuart.
Details of the terms and conditions associated with this fund can be found in the Product Disclosure Statement for the Perpetual Protected Australian Share Fund. The PDS is available now on navigator.com.au.
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Stuart Fechner is available for interview on 0407 839 080.
For further information, please contact:
Fiona McQueen
Public Affairs Manager
0414 236 100
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 the world’s seventh-largest insurance group and the biggest in the UK. It 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$68.32 billion, and more than A$488 billion of assets under management (as at 1 July 2003). The group has more than 59,000 employees and 25 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 is not, nor is it intended to be, comprehensive or a substitute for professional advice on specific circumstances. The securities advice or 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. Before making an investment decision on the basis of the advice above, a prospective investor needs to consider, with or without the assistance of a professional adviser whether the advice is appropriate in the light of their particular investment needs, objectives and financial circumstances
- 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. Investors should consider the PDS before making an investment decision or deciding to continue to hold a product.