Managed Funds Leveraged Equities

Discussion in 'Shares & Funds' started by Simon, 27th Sep, 2005.

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  1. Simon

    Simon Well-Known Member

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    Just speaking to my account manager and she tells me that LE has suspended accepting the Retail Fund as a security.

    This is not for any negative reason.

    Seems that it has proven to be so popular that they need to limit their exposure to having too much of any one stock.

    They tell me that as their holdings reduce they will open it again in a queuing format.

    Edit **** Steve has just advised me that you can still get access to the fund with LE if you go through Navra as they have a seperate allocation.

    Cheers,
     
    Last edited by a moderator: 27th Sep, 2005
    Simon, 27th Sep, 2005
    #1
  2. Simon Hampel

    Simon Hampel Founder Staff Member

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    Wow - that's interesting ... who would have thought that a fairly new fund like NavraInvest would hit those kinds of limits so quickly - it's a very good sign.

    From the Leveraged Equities site (refers to stocks specifically, but I assume it works the same way with funds):

     
    Simon Hampel, 27th Sep, 2005
    #2
  3. Simon Hampel

    Simon Hampel Founder Staff Member

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    What Margin Lenders other than Leveraged Equities are people using ?

    Any recommendations ?
     
    Simon Hampel, 5th Oct, 2005
    #3
  4. MichaelW

    MichaelW Well-Known Member

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    Sim,

    I'm through LE, but via Navra so they should give me my $250K...

    Cheers,
    Michael.
     
    MichaelW, 5th Oct, 2005
    #4
  5. Nigel Ward

    Nigel Ward Well-Known Member

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    BT & Commsec are ones I've used.
     
    Nigel Ward, 5th Oct, 2005
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  6. Simon Hampel

    Simon Hampel Founder Staff Member

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    Nigel - how much effort was the margin account application with BT and Commsec ? I guess you haven't used LE, so you can't compare ? LE was very (surprisingly) easy.

    Do they require guarantees and financial statements and such ?
     
    Simon Hampel, 5th Oct, 2005
    #6
  7. TwoDogs

    TwoDogs Well-Known Member

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    I use comsec and have BT facility ready to go. Both walk in the park to setup for indivuals.

    Comsec don't read or follow your instructions, so watch what they do as they just do what they want. Also, expect up a week between faxing in application and unit purchase. That delay can be a bugger when trying to time entry (unless you are Sim :D and don't worry)
     
    TwoDogs, 5th Oct, 2005
    #7
  8. hillsguy

    hillsguy Well-Known Member

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    I am with BT but switching to LE due to better rate through Navra.
     
    hillsguy, 6th Oct, 2005
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  9. Nigel Ward

    Nigel Ward Well-Known Member

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    Commsec was relatively efficient but they required directors guarantees.

    BT was woefully inefficient but the didn't require directors guarantees.

    Neither required financial statements beyond what was in the application forms.

    BT did require a solicitors' opinion on the trust deed...but provided a pro-forma which was acceptable with some minor tweaking.

    Cheers
    N.
     
    Nigel Ward, 6th Oct, 2005
    #9
  10. Simon Hampel

    Simon Hampel Founder Staff Member

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    I seem to remember LE requiring a solicitors opinion on the trust deed - I took the lazy option and paid them to do it.
     
    Simon Hampel, 6th Oct, 2005
    #10
  11. Simon Hampel

    Simon Hampel Founder Staff Member

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    I was just browsing through the list of funds that Leveraged Equities will lend against and notices that the Navra retail fund NAV0001AU is back on the list.
     
    Simon Hampel, 12th Oct, 2005
    #11
  12. Simon

    Simon Well-Known Member

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    Yes - seems it was just suspended for a week.
     
    Simon, 13th Oct, 2005
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  13. Glebe

    Glebe Well-Known Member

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    Has anyone seen their re-invested September distributions yet at Leveraged Equities? I check each day... hasn't updated yet...
     
    Glebe, 21st Oct, 2005
    #13
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