Join our investing community

Unit Trust investing in direct equities and managed funds

Discussion in 'Accounting, Tax & Legal' started by Ahmoh, 6th May, 2012.

Tags:
  1. Ahmoh

    Ahmoh Member

    Joined:
    20th Apr, 2010
    Posts:
    11
    Location:
    Sunnybank, Brisbane, Qld
    Hi,

    I am looking for law / ruling regarding a special trust management company with sole purpose to assist people setting up their own unit trusts (less than 20 unit holders each), and administer for them. The company could be the trustee but not the unti holders.

    The investment will be predominantly in direct equities and managed funds through stockbrokers / financial planning firms.

    Questions:

    1.) Is this considered involving in managed investment scheme?

    2.) Is it necessary to apply for the financial service licence (AFSL) with ASIC?

    I will appreciate it if someone could shed some light on the area.

    Thank you.

    Ahmoh