PLATFORMS, WRAPS AND MASTER FUNDS (IDPSS) NEW
Platforms, wraps and master funds (IDPSs)
Platforms, wraps and master funds are industry terms for what ASIC refers to as investor-directed portfolio services (IDPSs) or IDPS-like schemes. IDPSs are managed investment schemes for holding and dealing with one or more investments selected by investors. They are managed investment schemes because investors have the expectation of cost savings (e.g. through the netting of transactions or the pooling of funds to acquire investments) or access to investments that would not otherwise be available to them. They can be either registered or unregistered.
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