11 November 2010
The Macquarie Lifetime Income Guarantee Policy (MLIG) has been awarded a ‘Recommended’ product assessment rating by leading investment research provider, Zenith Investment Partners Pty Ltd (Zenith). Zenith’s rating follows a ‘Recommended’ rating awarded by Lonsec earlier this year.
MLIG is designed to enhance self-managed superannuation fund (SMSF) account-based pensions and transition to retirement strategies by adding a lifetime income guarantee. Launched in March, the product was developed to address a key concern of many Australians that they will outlive their retirement savings.
In awarding the ‘Recommended’ rating, Zenith noted MLIG’s simple structure and cost effectiveness compared to market peers.
“We are delighted with Zenith’s assessment of MLIG,” said Head of Longevity Solutions, Andrew Robertson. Zenith’s ‘Recommended’ rating is welcome confirmation that MLIG is an important addition to a retiree’s investment strategy.
“MLIG was launched earlier this year in response to market research that clearly indicated that basic income for life, maintaining lifestyle and accessibility were significant considerations for retirees and those transitioning to retirement.”
MLIG is available to SMSFs and Small APRA Fund trustees with a beneficiary age of at least 60 and investments of a minimum of $A50,000. The product is distributed through financial advisers.
Tel: (612) 8232 6472
This information has been prepared by Macquarie Life Limited ABN 56 003 963 773 AFSL 237497 (MLL) and is current as at 8 November 2010. MLL is the issuer of the Macquarie Lifetime Income Guarantee Policy (Policy). An invitation to apply for an investment in the Policy is made in the Product Disclosure Statement dated 8 March 2010 (PDS). The PDS is available from MLL by phoning 1800 618 913. In deciding whether to acquire, or continue to hold, an investment in the Policy, investors should obtain the PDS and consider its contents. This information has been prepared without considering an investor's objectives, financial situation or needs. An investor should consider the appropriateness of this information in relation to their objectives, financial situation or needs.
MLL is not an authorised deposit-taking institution for the purposes of the Banking Act 1959 (Cth), and MLL’s obligations do not represent deposits or other liabilities of Macquarie Bank Limited ABN 46 008 583 542 (MBL). MBL does not guarantee or otherwise provide any assurance in respect of the obligations of MLL. Investments in the underlying investment funds offered under the Policy are not deposits with, or other liabilities of, MBL, MLL or of any Macquarie Group company, and are subject to investment risk, including possible delays in repayment and loss of income or capital invested. None of MBL, MLL or other member companies of the Macquarie Group of companies guarantees any particular rate of return, the performance of, or the repayment of capital from the underlying investment funds offered under the Policy.
Note: Zenith Investment Partners Pty Ltd (Zenith) is the holder of AFSL No. 226872. The Zenith rating does not take into consideration personal circumstances, objectives or needs and should not be relied on in isolation - please refer to the full research report (available from the Issuer) for important assumptions, warnings and risks. Rating expires the earlier of 23 October 2011 or any material changes to the Fund. For further information see www.zenith.com.au
Note: The Lonsec Limited ("Lonsec") ABN 56 061 751 102 rating (assigned March 2010) presented in this document is limited to "General Advice" and based solely on consideration of the investment merits of the financial product(s). It is not a recommendation to purchase, sell or hold the relevant product(s), and you should seek independent financial advice before investing in this product(s). The rating is subject to change without notice and Lonsec assumes no obligation to update this document following publication. Lonsec receives a fee from the fund manager for rating the product(s) using comprehensive and objective criteria.