Investment firm Xpress Super has added direct property option to its self-managed superannuation fund (SMSF) platform.
The move will allow trustees to access the company’s investment suite as part of a complete SMSF service for $799 per year.
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Xpress Super CEO Olivia Long said direct property investment is an option that’s very popular with the self-directed investors as they understand the nature of direct property ownership.
"With ongoing equity market uncertainty, trustees are looking for assets that are perceived to offer reliable income and longer term capital growth," Long said.
Long cited recent ATO figures which indicate that direct property in SMSF is a growing asset sector, which has increased to 14.7% as of March 2013 from 10.7% in June 2006.
"According to the ATO property values grew over this period by 230% to more than $73 billion – a higher growth rate than any other asset class," Long said.
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By GlobalDataXpress Super has selected St George Bank and Macquarie Bank Lending Services to its lending panel for commercial and residential property.
Long said, "We are pleased to partner with investment providers that are experts in their field… We are confident that our selected providers will ensure our clients meet strict compliance regime requirements for investing in SMSFs."
Xpress Super has recently added Macquarie’s Separately Managed Account (SMA) product to its SMSF platform.
