Macquarie Flexi 100

Just wondering whether anybody picked up this product in June?

It's an interesting capital-protected product, given that they have a tax ruling and the 100% loan is limited recourse.

If you're a higher rate tax payer, it'll cost you something like $31k pa to have exposure to a $1m portfolio, with no downside other than the $31k pa net interest charge, although of course there are fees, performance hurdles and overall return caps to factor in.

Incidentally, the $31k is $1m * (9.1% interest - guaranteed return of 4%) * (1-39.5% tax).