Fund manager La Trobe Financial has been successful in attracting a $5 million investment from a Significant Investor Visa applicant, in a confirmation of strong global demand.
In a statement issued on Friday, the fund manager announced that a Malaysian Chinese investor has made a $5 million investment in its Australian Mortgage Fund alternative for Visa 888.
“La Trobe Financial understands how important the Asian region market is to Australia’s financial future and more particularly how important China is,” the statement said. “La Trobe Financial is committed to developing long-standing relationships with its Chinese partners.”
The move follows comments made to ifa by Baker & McKenzie partner Bill Fuggle in May 2013, in which the corporate lawyer anticipated the SIV scheme may produce a number of benefits for the Australian financial services market, including financial advisers.
SUBSCRIBE TO THE IFA DAILY BULLETIN
- 16 Nov 2018Government sets $51m to pursue misconductBy Eliot Hastie
- 16 Nov 2018The financial advisers most people don’t read aboutBy James Mitchell
- 16 Nov 2018Clients expect advisers to understand their situationBy Eliot Hastie
- 16 Nov 2018Retirees hit hardest by franking credit changes, says FSCBy Sarah Simpkins
- 16 Nov 2018Trust in advice more important than everBy Stephanie Aikins
- 15 Nov 2018We’ll lose advisers through FASEA but it’s necessaryBy Adrian Flores
- view all