Aviva has introduced an industry leading automatic re-weighting feature on its Navigator platform that takes account of ad-hoc additions or redemptions of cash into the product.
Aviva has introduced an industry leading automatic re-weighting feature on its Navigator platform that takes account of ad-hoc additions or redemptions of cash into the product.
Andrew Barker, general manager, wealth management products said Aviva's new cash re-weighting option uses an institutional investment technique which is currently not offered by any competitors and is designed specifically to make ongoing management of clients easy.
"I believe our solution is the most competitive and flexible on the market when it comes to optimising a client's tax position."
"In addition, unlike almost every other provider, Aviva allows tolerance ranges to be tailored for individual clients. This allows the adviser to find a balance between easy maintenance of the client's risk profile and minimising tax and unnecessary transactions," Andrew said.
The feature, which will be added to the Navigator wrap today, allows advisers to re-weight investment funds in a client's portfolio back to a target weighting if unit prices rise or fall, but also allows the tolerance range to be tailored for individual clients.
"This allows advisers to tailor the client's portfolio to help optimise the client's tax position," Andrew said.
Advisers can use additional deposits and withdrawals to assist with adjustments, and can choose to re-weight quarterly, half yearly or annually from any investment fund on the platform. There are no additional administration fees or charges and no minimum amounts.
Andrew said it's also important to ensure that the process is as flexible as possible catering to all types of investment strategies. "The utilisation of our innovative online transaction tools via the platform's nlink system should ensure that clients receive maximum benefit. Our state based trainers are available around the clock to assist advisers to learn how to use this feature."
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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 Australiais a group of two specialist financial services companies: Navigator Australia Limited and Norwich Union Life Australia Ltd, Portfolio Partners is the Australian funds management arm of Aviva plc ("Aviva"). 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 Europewith 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 2006.
- Aviva's principal business activities are long-term savings, fund management and general insurance, with worldwide total sales* of £41.5 billion at 31 December 2006 and assets under management of £377 billion at 30 June 2007.
* Based on life and pensions PVNBP, total investment sales and general insurance and health net written premiums including share of associates' premiums.
- The information in this document reflects Aviva Australia Holdings Limited (ABN 38 095 045 784) and its related entities 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 Aviva, 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 Aviva 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. 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.