Managed Funds Getting entry fee rebate through margin loan?

Hi all

I'm looking to put some money into some of the CFS funds, but the only thing that turns me off is the 4% entry fee. I know you can get around this entry fee by using someone like investsmart.

But I don't have the capital and the application will be made directly by the margin lender (BT). Are there any alternatives to getting this money back?

4% seems excessive to me.

 

I get the PDS from directinvest etc, fill it in and send to margin lenders.

I use BT (and other margin lenders) and never, ever pay the 4%.

 

WOW, MR DARCY,

That is useful to know. I wish I had known that a few weeks ago when I was banging my head trying to work out this same problem. When I called directaccess they said they could not work with margin loans.
Anyway, I ended up haggling McQuarie down a bit; haggling a Navra adviser down a bit for another fund; going wholesale on CFS (so no fee); but I had to pay the full 4% for Australian Unity Fund. OUCH. I did consider actually getting a cash advance from margin loan, buying the units in my name through directaccess, then lodging units with margin lender to bring LVR back down. It was all too hard and I would miss distribution, so I just copped the fee. But I won't again, thanks to you.

Cheers

 

Thank you, Sim.
Very useful info.

 

Thanks mate, you have saved me a tidy sum of cash. Glad I asked!

Sim, my total portfolio is about 90k, and most of it is in Vanguard funds already. So wholesale not an option yet