SOPHISTICATED INVESTOR
A sophisticated investor is one or more of the following:
- A person or entity (other than where the financial product or service is for use in connection with a business) that has obtained an accountant’s certificate dated no more than 2 years ago that the client:
- has net assets of at least $2.5 million; or
- had a gross income for each of the last two financial years of at least $250,000.
- A person or entity that is controlled by a person or entity that meets the requirements of (a) or (b) above.
- A person or entity who invests where the purchase price of the product is at least $500,000; or
- Where the financial product or service is provided for use in connection with a business that is not a small business.
PROFESSIONAL INVESTOR
A professional investor is defined as one or more of the following:
- A financial services AFSL licensee.
- A body regulated by APRA, other than a trustee of any of the following (within the meaning of the Superannuation Industry (Supervision) Act 1993):
- a superannuation fund;
- an approved deposit fund;
- a pooled superannuation fund;
- a public sector superannuation scheme (This does not include SMSF)
- A person or entity who has or controls gross assets of at least $10 million (including any amount held by an associate or under a trust that the person manages).
