SMSF gold holdings and transactions facilitated by specialist manager Rush Gold are now integrated on a major administration platform servicing the sector.
Rush Gold has been categorised as a gold-as-a-service platform and access to the precious metal via its services is now available for SMSF trustees via the BGL Simple Fund 360 and BGL Simple Invest 360 offerings.
“We’re thrilled to be the first to offer a low-cost premium gold investment opportunity to BGL’s growing client base, especially as investors increase their SMSF and investment portfolios within this inflationary environment,” Rush Gold chief executive Jodi Stanton said.
Stanton pointed out while this development benefits SMSF members in the Australian market, it forms part of the organisation’s larger strategic plans.
“Rush Gold’s unique gold-as-a-service platform is expanding from its home in the Australian market across the world, giving digital access to a premium gold product,” she said.
The company is offering its services in 15 countries currently.
The Rush Gold app allows SMSFs to purchase gold with no minimum purchase amount and no paperwork. It provides the fund title to real gold that is locked away in an Australian vault and insured by Lloyd’s of London.
Further, SMSF trustees can manage and track the value of their investment in gold by using their mobile phone.
In addition, the platform allows users to pay for transactions with their gold holdings via their mobile phone or via an email. This is done by sending gold to the relevant service provider using a dollar amount or the weight of the particular holding. Once the transaction is processed, the recipient is delivered their gold payment in 10 seconds.
Holdings on the Rush Gold platform can also be used to provide bullion as a gift and can be used for everyday transactions through a debit card.
Recently Rush Gold director Mark Pey spoke to selfmanagedsuper about the merit of investing in gold given the current prevailing economic conditions.
