Fidelity launches first SMA
Fidelity has launched its first Australian equity separately managed account (SMA) in partnership with platform provider Praemium.
The actively-managed Australian equity model would be managed by Fidelity portfolio manager Kate Howitt.
Fidelity said the decision to launch an SMA had opened a new channel for investors to access Fidelity’s global research capability and for the firm to build stronger relationships with clients.
Simon Glazier, Fidelity head of wholesale sales, said: “The SMA structure makes sense for the right client because investors own the shares they’re invested in which can offer tax benefits but don’t have administrative burden of investing directly in the stock market. At the same time, they’re benefiting from the expertise and research resources of a professional manager”.
Damian Cilmi, Praemium head of investment managers and governance, said: “Praemium is committed to providing its clients with access to high-quality managers and investment options. As one of the largest, most experienced global asset managers, Fidelity International recognises the importance of offering managed account solutions to meet the diversified and growing needs of investors and we are delighted to be their platform of choice for their first SMA”.
AUTHOR
Laura Dew
Recommended for you
The financial advice industry has enjoyed another week of strong new entrant numbers, totalling nearly 40 for the past fortnight, thanks to the latest exam passes.
Momentum Media’s wealth publishing network – comprising InvestorDaily, ifa, SMSF Adviser, Money Management, and Super Review – is proud to launch the annual Australian Wealth Management Awards.
Investment information firm Equity Story has signed a binding heads of agreement to acquire South Australian financial advisory and stockbroker Baker Young for $4.2 million.
Net cash flow on AMP’s platforms saw a substantial jump in the last quarter to $740 million, while its new digital advice offering boosted flows to superannuation and investment.
