A recent addition to Macquarie Wrap's platform, the Vanguard® Cash Reserve fund was established in October 2007. It provides advisers with a low cost (0.15% management fee), efficient liquidity management solution for their clients.

The fund aims to deliver a steady and reliable income stream through a diversified portfolio of high quality Australian cash and debt securities and seeks to match the total return of the UBS Australia Bank Bill Index before fund fees and expenses. For 12 months to 30 June 08 this UBS Australia Bank Bill index returned 7.32%.

The index comprises 13 notional bank bills of 1 to 13 weeks maturity. They are valued daily using the reference rates to calculate the index return. Each day, the term to maturity of each bill, and hence the index as a whole, reduces by one day until the shortest bill matures. The face value of the maturing bill is then reinvested in a new notional bill, with a term to maturity of 13 weeks. The term to maturity of the index as a whole then lengthens by approximately seven days.

Asgard adds Vanguard's International Small Companies Index Fund (Hedged) to its Master Trust and eWrap platforms

The Vanguard® International Small Companies Index Fund (Hedged) was added to the Asgard Master Trust and eWrap and became available for investment on 1 June 2008.

The fund gives your clients the opportunity to participate in the long-term growth prospects of some of the world's newest and fastest growing companies. It invests in around 2,200 securities from 22 of the world's developed markets, providing low cost access to a diversified portfolio of international small companies.

The fund is fully hedged into Australian dollars so your clients can invest in international small companies without currency fluctuations impacting their return.