Mortgage and property schemes will need ratings

Unlisted and unrated mortgage and property investment schemes will need to be rated under a proposed draft guidelines released yesterday by ASIC. New products will have to comply with the rules by the 31 October 2008. The regulator reviewed 200 unlisted mortgage investments schemes with a total of $42 billion in funds under management and 300 property schemes with assets of $32 billion. The move will assist investors measure up the risks involved in the schemes.

Source: Investor Daily