Lonsec 'Approved' investment structure The OneVue Managed Account structure (formerly ShareInvest) has been rated 'Approved' by Lonsec, an independent research house.
Advantages over traditional managed funds
According to Lonsec, this structure provides “major advantages over traditional managed funds including:
- avoiding inheritance of an existing tax position on entry which can allow for more effective management of an investor's taxation affairs.
- a withdrawal by one investor does not trigger a tax event for other investors.
- potential for more tax effective management of investment”
Lonsec also noted that investment structure offers a number of internally managed ‘tax aware' mandates. These internally managed mandates were not rated by Lonsec.
Lonsec opinion of ShareInvest structure
Lonsec researchers noted that:
- “The separately managed account (SMA) structure in which an investor's underlying investments are held means investors are the beneficial owners of those underlying investments."
- "SMAs are a relatively new investment platform in Australia; however they have been commonplace in the US for many years."
- "Administrator and Responsible Entity, OneVue Limited (OneVue), was created in May 2008 after Direct Portfolio Services Limited (DPSL) merged with Pentafin Pty Ltd, a provider of integrated administration systems for the financial services industry."
- "The combined group is able to offer a more enhanced suite of products and services in managed accounts than was previously the case when DPSL was the Administrator and Responsible Entity."
- "The Custodian used by OneVue is appropriate and well placed to perform duties in respect to both domestic and offshore securities."
- "The OzPort portfolio management system used by OneVue has been in use since inception of the business with modifications made in line with advancements in technology. In Lonsec's opinion SMA providers need to show significant commitment to R & D or risk losing market share to competitors. OneVue is better able to make this commitment since merging with Pentafin."
- "Fees are transparent and reasonable for the administrative services provided."
For more information
Read the detailed Lonsec Structure Review, available to you in PDF format. Or, phone us on 1300 790 235.
Important
The Lonsec Limited (“Lonsec”) ABN 56 061 751 102 rating (assigned August 2008) presented in this document is limited to “General Advice” and based solely on consideration of the investment merits of the financial product(s). It is not a recommendation to purchase, sell or hold the relevant product(s), and you should seek independent financial advice before investing in this product(s). The rating is subject to change without notice and Lonsec assumes no obligation to update this document following publication. Lonsec receives a fee from the fund manager for rating the product(s) using comprehensive and objective criteria.
About Lonsec
Lonsec Limited provides financial advisers with quality research—spanning managed funds, agribusiness, property and infrastructure, alternative investments and direct equities — as well as comprehensive stockbroking services. In April 2008, Lonsec was rated the number one research house by investment managers in Money Management's annual ‘Rate the Raters' survey, for the fourth year running.
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