pis cut mis schemes ties

PIS drops agribusiness from APL
30 March 2010 | by Lucinda Beaman


Grahame Evans


Professional Investment Services (PIS) has cut all agribusiness managed investment schemes (MISs) from its Approved Product List (APL) in response to structural concerns about the sector and unwillingness by product providers to cease offering high commissions to the group?s advisers.

The change to the APL is effective immediately and follows a review of the sector that began mid-last year following the collapses of Timbercorp and Great Southern.