09/12/2008
Naoumidis admits that the SMART Funds will benefit from the lobbying already done by Perpetual Investments on behalf of its WealthFocus Investment Advantage platform, which gained an ATO tax ruling which will allow investors to switch between 76 underlying funds without crystallising any capital gains tax. Naoumidis will seek a similar ruling.
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Canada has established its first national-level sovereign wealth fund with a seed of C$25 billion to underwrite “nation-building” projects like ports, mines and energy infrastructure. In an unusual funding mechanism, the fund will issue a retail product that will allow individual investors to invest with the SWF and “participate in Canada’s growth”.
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We acknowledge the Traditional Custodians of this land upon which Conexus Financial sits, the Cadigal of the Eora Nation. We recognise their continuing connection and unique cultural and spiritual relationships to the land, waters and community. We pay our deepest respects to them and their culture, and to Elders both past and present.
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