Master trusts versus the wrappers

Article Abstract:

The Australian Securities and Investments Commission (ASIC) wants to clear up any confusion investors may have about discretionary master trusts and wrap accounts when choosing a portfolio management service. ASIC is proposing standard rules for the operation of those trusts and accounts. Wrap accounts operate as a system that wraps around a portfolio of investments, whereby investors retain legal ownership of listed shares and trusts. Discretionary master trusts offer similar services, but investors do not hold a legal or beneficial interest in the investments.

Commercial Banks, Investment Banking and Securities Dealing, Portfolio & Funds Management, Banking industry, Services, Portfolio management, Wrap accounts, Discretionary trusts, BT Portfolio Services

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More protection for investors in solicitor's mortgages

Article Abstract:

A new Australian Securities and Investments Commission (ASIC) law to regulate mortgage scheme solicitors and protect investors may force some lawyers to stop offering the schemes. Under the Managed Investments Act of 1998, a mortgage-scheme operator must be a public company and must be licensed as a responsible entity. Also, the mortgage schemes themselves must be registered. The new regulation begins on November 1, 1999.

Legal services, Attorneys, Offices of Lawyers, Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Consumer Protection Laws, Laws, regulations and rules, Consumer protection, Lawyers, Column, Beliefs, opinions and attitudes, Investors, Mortgages, Solicitors, Australia. Securities and Investments Commission, Perkins, Michael, Wall, Rowan, Clinton, Phil

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Capital gains mean tax bills for investors in unit trusts

Article Abstract:

Top-rate taxpayers may be disinclined to invest in unit trusts because when the trust sells or realizes its investments, it is required by law to distribute any net capital gains. These realized gains, which are subject to capital gains tax, are distributed as income. Some analysts feel the requirement to distribute realized gains is a major tax inefficiency in the unit trust structure.

Public Finance Activities, Capital Gains Taxes, Management, Taxation, Economic aspects, Investments, Trusts and trustees, Trustees, Trusts (Law), Capital gains tax, Income distribution

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