How Is a Managed Investment Scheme Taxed?
A managed investment scheme or managed fund is a type of collective investment vehicle such as public unit trust. In such a trust, investors hand over money or other assets to a professional manager who manages the total funds to produce a return that is shared by investors. As members of the scheme, investors hold units in the trust that represent a proportional benefit as an entitlement to the trust assets. Managed investment schemes cover a variety of investments, including cash management trusts, property trusts and timeshare schemes. However, they do not encompass regulated superannuation funds, ADFs or term deposits. …