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La Trobe receives first SIV investment

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.