Just got this in my Superfunds email: It goes on to tell me how I can download the 60+ page trust deed and to get it signed, witnessed & delivered.
Yeah I have esuperfund. Interesting the clause 14.12 where the fund annual has to state the market value (priced in fiat I suppose) of the fund members assets. Will members have to get (and pay for) annual valuations of assets that are not immediately known, eg property, painting etc? You can use a rate notice as a valuation I suppose (if that's allowed) but here in Victoria councils revalue properties once every 2 years, so one year the value wont change thereby no new market value is know for that year. And other more exotic assets like paintings and the like, they will have to be valued? Sounds like its going to get expensive!
I'd hope eSuperfund can offer some advice on these valuations to customers to make this as painless as possible.
Also noted the bit where you can't keep your PMs next to your superfunds PMs Inclusion of a new clause in the Trust Deed (see Clause 14.2) providing that the trustee must ensure that money and other assets of the fund are kept separate from those held by the Trustee personally. I wonder if seperate can just mean 'in a different plastic bag in the safe' or whether it means a different safe in a different building.