Clients of ESUPERFUND are permitted to invest in non listed Australian and International Managed Funds with any Fund Manager that they choose. However, please note that clients of ESUPERFUND are not allowed to invest in WRAP Accounts or Separately Managed Accounts (SMAs) to purchase Managed Funds. The rationale for disallowing these Investments is that these Accounts will typically have their own Bank and Broker. This means that we will be unable to receive share trading data and transaction data to attend to the SMSF Annual Compliance work. We understand that the WRAP or SMA Platform provides annual data however in many cases it must be checked, reconciled and inputted and this additional manual work is outside the scope of our low cost model offering.
In relation to record keeping for Managed Fund Investments, ESUPERFUND will send you a Checklist each year guiding you on what documentation we require to prepare your SMSF annual compliance requirements.
This is typically the Managed Fund's Annual Distribution Statement which is provided by the relevant Fund Manager at the end of each Financial Year.