ASGARD - Trustee Account
  On 1 June 1999 ASGARD released the ASGARD Trustee Account - a total solution for DIY funds.

The product was released in response to the continued growth of self-managed superannuation funds which currently number 180,000 and assets totalling $50 billion. It also coincides with new investment and member/trustee rules, due to be passed in 1999, which will enforce greater scrutiny of self-managed funds and their investments.

The ASGARD Trustee Account is available to superannuation fund trustees only.

The ASGARD Trustee Account will assist superannuation fund trustees to meet the legal requirements outlined in the new legislation by allowing them to implement commercial investment strategies. The legislation includes the handover of regulation of self-managed funds to the Australian Taxation Office (ATO). This presents a huge opportunity to assist trustees comply with the new legislation. 
              • The ASGARD Trustee Account comprises the following: 
• ASGARD Risk Insurance Service - a range of insurance options available to members.
• ASGARD Cash Management Account - all self-managed funds require an account in order to receive contributions, purchase investments and pay pensions and fund expenses (ATO, insurance etc.).
• ASGARD Trustee Funds Account - an investment vehicle providing low cost access to a diverse range of wholesale managed investments. Full investment administration including tax reporting is provided, in a format suitable for superannuation fund tax returns.
  A $50,000 minimum initial investment is required.
  The ASGARD Trustee Funds Account provides a unique facility for trustees of superannuation funds to implement and administer investment strategies. It can be used to implement various strategies for accumulation, allocated pension and complying pension funds.
 
ASGARD Trustee Funds Account Fees
First $100,000 0.9% pa
Next $400,000 0.6% pa
Next $4,500,000 0.3% pa
Balance Over $5 million 0.1% pa
'All inclusive' - no additional ASGARD expenses or Trustee fees apply.
  Features to note:
• Entry fee from 0 - 5% payable on contributions to the ASGARD Trustee Funds Account.
• Regular Investment Plan available using ASGARD CMA or nominated bank account.
• Account balances can be linked to ASGARD CMA for reporting. 
  Please note that direct shares will be catered for in a new facility to be launched later in 1999.
  The ASGARD Trustee Account is an essential vehicle for financial advisers who are assisting superannuation fund trustees with the implementation of commercial investment strategies.
Investment Choices currently available
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Trustees still retain control over how their funds' money is invested and with whom, and have the flexibility to change when required.
• The ASGARD Trustee Account may also reduce the administration costs for self-managed funds.
  To increase the financial adviser's level of business in the self-managed fund area, SEALCORP Technical Services is also able to offer assistance with the following associated self-managed fund services:
1. Fully complying trust deed required when establishing a self-managed fund. This arrangement has been negotiated with a leading national legal firm. 
2. Trust deed review and amendment service, where required, to ensure compliance with new legislative requirements. This service has also been negotiated with the same legal firm.
3. Investment strategy report for implementing strategies in a self-managed fund using the ASGARD Trustee Account. 
4. Complying Pension Certificate. Actuarial sign off is required on an annual basis for a self-managed, complying pension. Technical Services has negotiated a low cost service through a respected actuarial firm to support the recommendation of a self-managed complying pension strategy using the ASGARD Trustee Account. 
5. An education seminar which can be delivered to superannuation trustees to update them on new legislative requirements, and what action they need to take in order to meet their obligations.
  For all queries and additional information regarding any of the above services and costs, please contact me.
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