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Online discount broker TD Waterhouse has struck deals with both Morningstar and InvestmentLink to provide research and portfolio administration services on a se-lection of managed funds.
Online discount broker TD Waterhouse has struck deals with both Morningstar and InvestmentLink to provide research and portfolio administration services on a se-lection of managed funds.
Under the terms of the deals, Morningstar will initially provide star ratings and other information on 30 managed funds out of the 4000 offered in the local retail market through the TD Waterhouse Web site. InvestmentLink will provide a con-solidated reporting service to online customers.
Called Analysts Choice Funds, the research service will be used to select managed funds that have stood out and delivered long term, above average performance.
The selection of 26 funds on the initial list will fall into four categories: Australian equities, international equities, multi-sector trusts and fixed income. At the same time, the online broker will rebate up to 100 per cent of fund entry fees for clients who enter into a managed fund via TD Warehouse.
TD Waterhouse managing director Ian Struthers says the introduction of the funds research is a turning point in the online and discount market.
“Managed funds are going to become a bigger part of Australian investment port-folios. By rebating up to 100 per cent on fund entry fees…this raises the bar for the industry,” Struthers says.
“This makes us different from those simply offering a deep discounted trading service. Services such as this, and more due over the coming months, will widen that gap.”
AUTHOR
Jason Spits
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