Perpetual has found another market for its WealthFocus portfolio administration platform, after it received Qualified Registered Overseas Pension Scheme (QROPS) status from the UK government. .
The status enables UK expatriates to use the platform for their retirement funds and avoid a 40 per cent tax when transferring their assets. Eric Wang, Perpetual chief operating officer, said the decision to receive QROPS status was in response to demand from planners who had UK expatriate clients. “;There’s quite a bit of movement from the UK to Australia…It’s a client benefit,”; Wang said. He said interest had been piqued by UK expatriates looking to top up their super with the $1 million undeducted contribution available until the end of June. Perpetual has also notified the UK press of the QROPS status and hopes to increase recognition of its brand name there. But Wang said it was not looking to launch the platform in the UK as yet.
13 February 2007 00:00
perpetual, notified, benefit, launch, brand, hopes, recognition, “there, undeducted, qrops, expatriates, piqued
Investments
Rest Super has built its private equity program around a deliberately selective approach to manager and deal selection, favouring a concentrated roster of external partners and proactively seeking out top PE firms rather than waiting for them to come knocking. Head of private markets Marina Pasika unpacks the program’s coming of age and what powered an asset class return more than double the peer average in the last financial year.
Leave a Comment
You must be logged in to post a comment.