CBA looks for investment growth
(2 June 2008 – Australia) The Commonwealth Bank of Australia has announced the launch of new products that target individual investors and Self Managed Super Funds (SMSFs).
The bank has indicated that the launch of the new products, as a new generation of product, is a strategic move for growth.
CBA also said that the investment by the bank follows the development of innovative investment options and a significant IT spend to ensure quality client service.
Ruth Stringer, partner at legal firm Blake Dawson, said superannuation legislation was amended last year to allow trustees of superannuation funds, including SMSFs, to borrow on a limited recourse basis, subject to various specific conditions.
The two new products, Options and Lending ('Opals') and Capital Series Multi Select incorporate these legislative changes.
Suzanne Salter, head of structured investments, Commonwealth Bank, said that following the market correction and subsequent increase in margin calls, investors require innovative products providing not only the peace of mind that capital protection brings in times of volatility, but also the potential for strong growth and returns.
CBA has indicated that because the new products incorporate capital protection and the new legislative changes, the bank will be able to obtain growth in these areas.
CBA also said that the investment by the bank follows the development of innovative investment options and a significant IT spend to ensure quality client service.
Ruth Stringer, partner at legal firm Blake Dawson, said superannuation legislation was amended last year to allow trustees of superannuation funds, including SMSFs, to borrow on a limited recourse basis, subject to various specific conditions.
The two new products, Options and Lending ('Opals') and Capital Series Multi Select incorporate these legislative changes.
Suzanne Salter, head of structured investments, Commonwealth Bank, said that following the market correction and subsequent increase in margin calls, investors require innovative products providing not only the peace of mind that capital protection brings in times of volatility, but also the potential for strong growth and returns.
CBA has indicated that because the new products incorporate capital protection and the new legislative changes, the bank will be able to obtain growth in these areas.
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