After four attempts to be included on the FirstChoice platform, Grant Samuel Funds Management has been approved by Colonial First State.
Speaking to ifa, Grant Samuel director Damien McIntyre explained that joining the FirstChoice platform would provide great opportunities for the business.
“If you’re not on [FirstChoice]… well, then you miss out completely; even though you might be on the menu of many other platforms, because they like to be uniform, you miss out on the business,” Mr McIntyre said.
“[FirstChoice] is the largest investment platform in the country,” he said. “Effectively, what this means is it really tightens up and create many new opportunities that we were previously not seeing.”
Mr McIntyre said he believes the reason this fund has been successful in the Australian marketplace is that it focuses on dividends.
“Given the lust for income amongst retirees and in particular self-managed super investors, this becomes a very attractive investment for them. Previously investors haven’t had the opportunities to invest in global equities with the outcome of getting dividend income,” he said.
“Seven years ago, when we brought this fund to the marketplace, that was our aim: to fill that gap. And the fund has now raised $1.25 billion from various retail channels, so clearly there is a market for dividends,” he added.
The FAAA has expressed concern regarding one area of the first tranche of QAR legislation that could potentially impose ...
The FSC CEO will join a long line-up of renowned speakers at the inaugural summit. Blake Briggs, chief executive ...
Legislation tabled in Parliament on Wednesday has made some amendments to ongoing fee arrangements and consent ...
Never miss the stories that impact the industry.
Get the latest news! Subscribe to the ifa bulletin