Australia-based Aura Funds Management (AFM) has launched two new funds that comply with the Commonwealth Government’s Significant Investor Visa (SIV) program.
The two new funds, the Australian Core Property Fund and the Australian Strategic Equities Fund, will provide investors an exposure to exclusively Australian asset classes, according to Financial Standard.
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The SIV program, which is open to all foreign investors, is targeted in particular at high net worth Chinese nationals. The applicants are required to invest at least $5 million in compliant products for a minimum of four years, after which they can claim permanent residency.
"We are confident that the SIV programme will have important added benefits on the broader Australian economy. The SIV is designed to attract both strategic capital investment and sophisticated entrepreneurs, which will invariably have a positive impact," the publication Avi Naidu, managing director of AFM, as saying.
AFM has appointed McGrath Estate Agents as strategic advisor to its Australian Core Property Fund.
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