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Wholesale growth continues at LM
The LM Wholesale Mortgage Income Fund (WMIF) has been listed on the BT Wrap platform, showing continuing expansion of the $900 million unlisted Queensland mortgage trust.
With LM achieving investment returns of 8.5 per cent for the 12 month investment option of the WMIF, and 7.15 per cent for the Flexi Account, Karli Hadden, of BT Financial Group, said adviser demand had been extremely strong, prompting its offering on the BT Wrap and SuperWrap.
The wholesale version of the LM mortgage trust was designed specifically for platforms, and was launched in 2002.
LM chief executive Peter Drake expressed his delight at the business growth opportunities presented by the BT platform listing.
“Advisers can blend their client’s investment through both the Flexi Account and fixed term offerings to maintain optimal liquidity whilst maximising returns,” he said.
This latest listing brings LM’s wholesale availability to 44 Australian master trusts and wrap accounts and eight global portfolio bonds including Navigator, Asgard, Macquarie, AXA, Royal Skandia and Friends Provident International.
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