Issue 26: Understanding investment product structures (Part 2): Equities

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Issue 26: Understanding investment product structures (Part 2): Equities

In our September article on Understanding investment product structures, we finished up with a question around which type of structure may suit you if you were to invest in an asset class such as Australian equities.

There is no one answer to this question, for any number of reasons; not in the least of which is that your own personal circumstances or investment needs are not known and importantly, how you invest and which structure you choose may change over time; so, the answer could change depending on circumstances and future timeframe.

However, it may be useful to look at what are some of the structural features of closed-end companies and trusts, compared with open-end unit trusts and what may be seen as the benefits of each as well as any other aspects that you may need to consider.

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Ian Irvine - Guest Contributor

Ian has been a keen investor for over 40 years and can draw on his experiences from both investing on his own behalf and also having worked in financial services for more than 30 years. Over this time, he has seen many changes that impact investors’ attitudes to in what and how they invest.

He started his career in what is now referred to as fast moving consumer goods (FMCG) or grocery, working for an Australian margarine manufacturer. In 1986, he was recruited to Westpac around the time of deregulation of the sector, where he spent 10 years before taking a role at AMP and then with ASX for 14 years up to the end of 2017. He continues to be involved with ASX; working on their educational programs.

In 1996, he and his wife established their own SMSF and again the experience and lessons learned regarding managing an SMSF over the years have provided him with many insights and ideas. He enjoys sharing these with others where these are helpful and always suggest that if an investor or SMSF trustee is unsure, that they should seek appropriate advice from a licenced professional.

Ian holds a B. Com (UNSW), and lives in Sydney and enjoys travelling to and meeting investors and SMSF trustee at the educational events with which he has involvement with from time to time.