Growth in Macquarie’s Protected Equity product
Despite a slowing in the growth rate of margin lending for the quarter to September 2000 to 3%, Macquarie bank recorded growth of 74% in its protected equity loan product over the three months.
Macquarie Bank received a product ruling from the Tax Office in regard to the tax deductibility of the interest payments made under a protected equity loan. This ruling alleviated some of the doubt surrounding the tax deductibility of interest paid on this type of capital protected loan.
Macquarie Bank also has a margin lending product as well as facility that allows investors to gear into the Macquarie Enhanced Index Trust without margin calls.
‘Boost for Macquarie’ , Australian Financial Review 6 December 2000.