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RaboPlus Account for Managed Funds

Discussion in 'Managed Funds & Index Funds' started by aimran, 8th Dec, 2007.

  1. aimran

    aimran New Member

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    Location:
    Melbourne
    Hi everyone,

    Looking to start a RaboPlus account mainly to invest in managed funds. Currently, they have an offer until 2nd January 2008 which reduces the entry fee for managed funds from .75% to once off fee of .25%.

    RaboPlus: Low cost managed funds online

    The reason why I am thinking of going through them rather than Commsec Managed Funds or Investmentsmart is to keep all my managed funds in one place rather than investing separately. In addition, there are access to mainly wholesale managed funds, consolidated account reporting, ability to buy and sell managed funds online 24/7 (almost like a wrap facility without additional fees). Some of the funds available to buy online are Challenger, Perpetual, Tyndall, AMP and Merrill Lynch. The funds are not comprehensive and I wish they had Macquarie, Vanguard and BT funds, however, I presume with time they will be added to the list. The facility also gives the ability to buy different types of funds for smaller amounts of money into wholesale funds - Australian Shares, Asian, Property - all under one roof.

    Have any of you used RaboPlus? What are your thoughts? Is there an alternative?

    Thanks.

    Aimran.
     
  2. samaka

    samaka Well-Known Member

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    I signed up for an account simply for the high-interest savings account. I'll be interested once they start adding some more managed funds - and the ability to buy direct shares as well!
     
  3. aimran

    aimran New Member

    Joined:
    8th Dec, 2007
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    Location:
    Melbourne
    Thanks!

    Yup,

    At present, I was keen in investing in the following within RaboPlus;

    Merrill Lynch W Aus Growth Share Fd (for Australian large cap shares);
    AMPCI Small Companies Fund-Cl A (for Australian small cap shares);
    Challenger W Asian Share Fund (for overseas exposure); and
    Perpetual WFI Property Sec's Fund (for Property).

    Hopefully someone who has used the managed funds facility will give some insight as to the facility. What do you think of the funds I have selected? I am looking for long term growth.

    Thanks.
     
  4. samaka

    samaka Well-Known Member

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    [chart=CF;HBC0010AU;lasty;mav;20071208]Challenger Wholesale Asian Share Fund[/chart]

    [chart=CF;PER0240AU;lasty;mav;20071208]Perpetual Property Securities Fund[/chart]
     
  5. tailcat

    tailcat Well-Known Member

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    Yeppoon
    Whilst they advertise 24/7 buying and selling, I think people should take care. I think it essentially means that you can place your order at their front door 24/7. What happens after that is a little bit slower....

    When I asked:


    Could you please give me details on how your "Buy AND sell managed funds online 24/7" system works? If I sell some managed funds at 2am, what happens? At what price would the units be sold at? How is the price actually calculated?


    This is the reply I got:


    Thank you for contacting RaboPlus.

    When you purchase managed funds via RaboPlus, the unit price used in processing your buy or sell transaction is an estimate only. Accordingly, the number units allocated to you when you buys funds is also an estimate.

    Whilst RaboPlus is one of the most efficient administrators in the market, we still have to process and confirm your buy or sell transaction with the fund provider. This will usually take a couple of days, but may take longer around the end of quarter or financial year.

    The reason for the delay arises because the fund provider will not confirm and report their unit price for at least 2 business days.

    On the day you purchase units in a fund it is required that you process your transaction prior to 1pm. Any transaction processed after 1pm will be processed effective the next business day and may therefore get a different unit price.

    At the conclusion of each business day, the fund manager will need to mark-to-market the value of their portfolio to set the unit price applicable for that day. This will normally occur after market has closed and then be available the next day.

    It will usually take another business day for the fund provider to report and confirm the unit price with RaboPlus for all buy and sell transactions for the previous day. Therefore, you will always receive the unit price for the day you buy or sell units in a fund, but this value may vary to the indicative unit price quoted on screen when you process your instructions with RaboPlus.

    Since there will normally be a change in the unit price from one day to another, you will almost certainly see a different indicative unit price con screen to the unit price processed by RaboPlus and the fund provider. Importantly, you will always receive the unit price applicable to the effective day your instructions with RaboPlus when processed.



    Tailcat
     
  6. AsxBroker

    AsxBroker Well-Known Member

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    Hi Tailcat,

    Thanks for clarifying for everyone, so basically transactions are executed at about 1pm every business day. Not the 24/7 execution electronic, more 24/7 web access...

    Cheers,

    Dan
     
  7. tailcat

    tailcat Well-Known Member

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    AsxBroker,

    That's essentially how I read it. I thought 24/7 access was a little too good to be true.

    Tailcat
     
  8. Mark Laszczuk

    Mark Laszczuk Well-Known Member

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    Well it makes sense really, doesn't it. How many fund managers do you know that work 24/7?

    Mark
     
  9. aimran

    aimran New Member

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    Location:
    Melbourne
    Thanks!

    Thanks for your help!!!:)