Aviva today launched Navigator Access - a simplified and attractively priced administration platform offering a range of top quality investments and fund managers.
Aviva today launched Navigator Access - a simplified and attractively priced administration platform offering a range of top quality investments and fund managers.
There are two Navigator Access services available - Navigator Access Investment and Navigator Access Super and Pension. Investors will have the choice of over 30 investment options, sourced from the ‘best of the best’ fund managers such as Investors Mutual, Perpetual, Platinum and AMP.
Navigator Access makes investing easy, even for investors with low balances. With a minimum deposit of $3000 investors can access top quality investment service without high cost.
"This service is about providing an investment avenue for all types of investors. It’s available for those looking to invest a small amount and then make regular contributions or for others wanting to invest a larger amount," said Aviva’s chief executive officer, Allan Griffiths.
The launch of Navigator Access is in response to the new and growing segment of the market for investors who want some control over their money but don’t want the benefits of a full-scale administration platform.
Allan Griffiths said Navigator Access is a first class administration platform providing investors the opportunity to access leading investments with key fund managers without paying for additional services which may never be used.
"It’s a bit like choosing a no frills home loan – you are selecting the things which are important to you. If you are only thinking about low interest rates and easy approval and not about the availability of overdrafts or other options - then don’t pay for it.
"This is exactly what we are doing with Navigator Access – concentrating on what’s really necessary for some people, and generally that’s leading investment options at an affordable price – and not other services which the investor never has any intention of using," said Allan.
Tax Management
One of Navigator Access’ unique features is it provides investors with sophisticated tax optimisation strategies which are generally associated with full service platforms.
In the below graph, Navigator Access was 0.42 per cent or $53,812 in front of another leading superannuation service who didn’t offer the same attractive tax strategies.
Investors in Navigator Access can minimise the tax impact on their investments in a number of ways.
Firstly, when a deductible contribution is made to a superannuation account, the fund is obliged to pay 15 per cent contribution tax on the total amount deposited. Most superannuation funds deduct this tax at either the time of the contribution, or on a quarterly basis. However Navigator deducts the 15 per cent annually, which means the investors benefits from having more money invested for up to 15 extra months before the tax is paid to the Australian Tax Office.
Secondly, investors can minimise any possible Capital Gains Tax (CGT) liabilities when selling or switching investments with Navigator Access. Many other portfolio service providers work on the ‘first in, first out’ basis for selling holdings of an investment, therefore automatically selling the first parcel of investments units bought. This may not be the best option- so with Navigator Access your financial advisers can determine the best parcel of units to sell to minimise any capital gains tax.
And, thirdly, investors with Navigator Access will pay no CGT when moving from a super to pension saving environment, which can make a big difference to income in retirement.
Allan Griffiths says Navigator is quite simply putting more money in investors’ pockets.
"At the moment there is a lot of hype about fees and charges and superannuation, but this shows you that it’s important to look past these fees and instead concentrate on some of the more strategic offers that are available in the market place," says Allan.
Investors with Navigator Access can also see their portfolio on line any time, anywhere with navigator.com.au
With more than $11 billion in funds under administration, Aviva, through its Navigator platforms specialises in creating financial solutions for all types of investors.
For more information about Navigator Access please contact a financial adviser.
For further information please contact:
Simon Morgan
Group General Manager Public Affairs
tel: (03) 9829 8892
mobile: 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 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.
- Globally, Aviva Australia is part of Aviva plc, the world’s sixth 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$78.6 billion, and more than A$645 billion of assets under management (as at 7July 2005). The group has more than 60,000 employees and 30 million customers worldwide.
- The information in this document reflects Navigator Australia Limited's ('Navigator’) ABN 45 006 302 987 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.