CMC Markets Stockbroking has announced its pricing levels for the new Australian Securities Exchange (ASX) mFund unlisted managed funds settlement service.
Clients of CMC Markets Stockbroking wanting to access the mFund settlement service will be charged $29.95 or 0.11 per cent with no ongoing administration fees.
“MFund is a groundbreaking product that will empower investors and we are excited to be first to market with our benchmark price that enables SMSF trustees and financial planners the flexibility to diversify their existing portfolios and ultimately lead to better investment returns,” CMC Markets Stockbroking head Andy Rogers said.
“CMC Markets Stockbroking welcomes traditional users of wrap or master trust platforms, whether these are self-directed investors or professional advisers.
“We have a competitive retail and wholesale offering that addresses the needs of both sets of clients.”
CMC Markets Stockbroking’s online trading platform is fully integrated with the new mFund Settlement Service.
The mFund Settlement Service was launched earlier this month and currently allows investors direct access to 47 managed funds.
“MFund builds upon the depth and breadth of unlisted managed funds, and adds the efficiencies and speed associated with ASX services. It also allows for the replacement of traditional paper-based processes, and conveniently consolidates for the investor their mFund units with any other ASX investments, such as shares,” ASX funds and investment products senior manager Marcus Christoe said.
“For SMSF trustees, mFund provides greater control and flexibility in overseeing their investment portfolios by delivering a greater range of products in a cost-efficient and convenient way.”
Now that it has revealed its pricing structure, Rogers said CMC Markets Stockbroking would continue to enhance the offering in the future.
“We will work alongside research and content vendors to build out mFund-specific content on our platform, such as performance charts, screeners, filters, analyst commentary, quantitative and qualitative research, all packaged together in our familiar clear and easy-to-use format.”
