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Leveraged Equities

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

  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
  2. Simon Hampel

    Simon Hampel Co-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):

     
  3. Simon Hampel

    Simon Hampel Co-founder Staff Member

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    What Margin Lenders other than Leveraged Equities are people using ?

    Any recommendations ?
     
  4. MichaelWhyte

    MichaelWhyte Well-Known Member

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    Sim,

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

    Cheers,
    Michael.
     
  5. Nigel Ward

    Nigel Ward Team InvestEd

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    BT & Commsec are ones I've used.
     
  6. Simon Hampel

    Simon Hampel Co-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 ?
     
  7. MrDarcy

    MrDarcy 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)
     
  8. Here_To_Learn

    Here_To_Learn Well-Known Member

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    I am with BT but switching to LE due to better rate through Navra.
     
  9. Nigel Ward

    Nigel Ward Team InvestEd

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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.
     
  10. Simon Hampel

    Simon Hampel Co-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.
     
  11. Simon Hampel

    Simon Hampel Co-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.
     
  12. Simon

    Simon Well-Known Member

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    Yes - seems it was just suspended for a week.
     
  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...