Asgard re-jigs SMAs for growth

Asgardhas relaunched its Separately Managed Accounts (SMAs) in superannuation, pensions and investments, following a review of its model portfolios.

This review, conducted through the newly established St George Investment Centre of Excellence, has resulted in changes to asset allocations and fund manager selections, due to developments in global markets since the last major review and Asgard’s decision to adopt a more conservative benchmark positioning of the portfolios.

Sealcorp director of distribution Dan Powell says, “These changes, coupled with the low interest rate, low inflation environment, have led us to re-think the positioning and performance of the portfolios relative to industry funds and industry benchmarks.”

The new SMA model portfolios have higher weighting to growth assets, and most have a decreased exposure to cash international shares, the latter in favour of Australian shares.

Powell says these higher growth exposures are justified given the lower return environment, to provide investors with higher equity assets.

Asgard has also negotiated with fund managers to receive greater rebates, resulting in lower management expense ratios across most portfolios, with high growth portfolios receiving significant reductions.

New fund managers added to the portfolios includeInvestors Mutual(to Australian shares), Bank of Ireland through theBTWholesale Partner International Shares Value Fund (to international shares),UBS(to property securities) andMacquarie Investment Management(to Australian and international fixed interest), with theBarclaysGlobal Asset Allocation Trust also added to some portfolios.