Powered by MOMENTUM MEDIA
subscribe to our newsletter

Non-bank lender launches 90-day notice account

Chris Andrews
Miranda Brownlee
17 July 2019 — 1 minute read

La Trobe Financial Group has launched a new investment product to help SMSF investors manage their portfolio liquidity and pension needs, with recent rate cuts continuing to place pressure on yields.

La Trobe Financial Group has added a 90-day notice account to its investment product suite which offers short-term duration investments at an initial investment rate of 3.1 per cent per annum paid monthly.

The new account provides a source of monthly income as well as access to funds with 90 days of notice.

Advertisement
Advertisement

La Trobe Financial chief investment officer Chris Andrews said SMSF investors are finding the hunt for yield to be increasingly difficult, and recent rate cuts by the Reserve Bank have only added to their misery.

“Our 90-day product is an addition to La Trobe Financial’s already strong suite of capital-stable, income-generating investment offerings,” Mr Andrews said.

“We have heard for some time that SMSF investors are looking for alternatives in the 90-day space to manage their portfolio liquidity, pension and investment allocation needs, and the 90-day notice account is our response to that demand.”

Mr Andrews said that for the past several years, La Trobe Financial has been aware of the challenges that investors face in generating a reasonable income in a hyper low-rate environment.

“The pain is particularly acute for investors who remember paying record high interest rates on their home loans, only to have savings rates plunge as they enter into retirement,” he said.

“As we have stated repeatedly over the last five years, we believe that this current low interest rate environment will persist for years to come and it is critical that investors take steps to identify alternative income sources.”

Miranda Brownlee

Miranda Brownlee

 

Miranda Brownlee is the deputy editor of SMSF Adviser, which is the leading source of news, strategy and educational content for professionals working in the SMSF sector.

Since joining the team in 2014, Miranda has been responsible for breaking some of the biggest superannuation stories in Australia, and has reported extensively on technical strategy and legislative updates. Miranda has also directed SMSF Adviser's print publication for several years. 

Miranda also has broad business and financial services reporting experience, having written for titles including Investor Daily, ifa and Accountants Daily.

You can email Miranda on: This email address is being protected from spambots. You need JavaScript enabled to view it.

Non-bank lender launches 90-day notice account
chris andrews smsf
smsfadviser logo

Are you up to date with the legislative changes from 1 July? Contribution cap increases, super guarantees, age increases, SG rate increases. The budget announcement changes. Don’t be caught off guard by your clients’ questions. Prepare for any scenario with the SMSF Foundations course. 21 CPD hours available. Learn more

Arm yourself with the critical information that you need to ensure you and your clients continue to thrive in today’s changing environment at the free-to-stream SMSF Adviser Technical Strategy Day. Live streamed directly to you in October over three days, this event is jam-packed with expert-led sessions to arm you for success by providing the latest updates on regulatory and legislative changes impacting SMSFs. Secure your free spot today, visit www.smsfstrategyday.com.au

join the discussion

Latest poll

Do you have clients that are aged 65 or 66 planning to trigger the bring forward rules?

SUBSCRIBE TO THE
SMSF ADVISER BULLETIN

Get the latest news and opinions delivered to your inbox each morning

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.