The use of super clean share classes by certain platforms is beginning to cause 'unintended restrictions' for clients trying to re-register to alternative platforms.
Murdoch Asset Management director Tony Dunne has warned clients are at risk of losing out in terms of their tax position, and from being out of the market, because of problems transferring clients from super clean share classes to clean ones. Dunne has a client currently invested in the preferentially priced share class of a fund via Cofunds. But when Dunne tried to re-register the client to Transact, which does not have access to the same share class, he was left with the choice of leaving that portion of the client’s portfolio on Cofunds, or selling out of the fund and moving the ca...
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