AMP Financial Planning has launched its first separately managed account (SMA) for its financial planners, incorporated into a “wrap-like platform”.
The AMP Personalised Portfolio offers investors a combination of model share portfolios, managed funds and individual shares customised to their requirements, according to product manufacturing director Paul Sainsbury.
It enables investors to access direct shares through a professionally managed model share portfolio, manage their own share portfolio, or invest in wholesale-managed funds across the major asset sectors, he said.
More than 25 model portfolios, primarily covering the Australian shares asset sector, are offered on the SMA, as are more than 60 managed funds across the other major asset classes.
Targeted at investors with a minimum of $100,000 to invest, the SMA also offers investors “significant opportunities for tax effectiveness”, Sainsbury said.
“They do not inherit embedded capital gains when investing, as can be the case with managed funds, and as the beneficial owner, the investor receives dividends and franking credits as they are earned and losses can be utilised as they are incurred,” he said.
