Fiducian opens funds to other wrap providers
Fiducian Portfolio Services(FPS) will offer its own range of funds to other wrap account providers after they posted strong performance in recent months.
The move is a shift away from the traditional promotion of the group’s funds which until now have been offered via a ‘manage the manager’ system through advisers and dealer groups associated with FPS.
Fiducian investments manager Conrad Burge says Fiducian funds were recently added to theMercerperformance survey with historical data showing that the group’s funds would all have ranked in the top five over the past five years.
"Our Capital Stable fund's performance would have placed it ahead of all but one of the ranked funds; our Balanced fund would have ranked 5th out of 28 funds; and our Growth fund would have ranked ahead of all the five funds that were actually ranked on the surveys,” Burge says.
According to Burge the funds have performed strongly due to the mix of underlying fund managers and tactical allocation between asset sectors, as well as between underlying fund managers in each sector.
He also says the group has not made any decisions which have had a major negative impact on the better investment decisions and the group’s process should continue to deliver consistent returns with low risk.
The move follows on from a series of other actions taken by Fiducian in the last month with the group planning on opening a new financial planning office in Sydney and offering advice to clients of accounting group Hayes Knight.
The group is also in various stages of discussion with 20 to 30 advisers over plans to sign them up and will soon complete several corporate super deals with various public companies.
Fiducian has already moved to offer its information support systems to external advisers, the first step in providing access to the Fiducian funds, and has started to promote its FSRA compliant financial plan writing software outside the group as well.
AUTHOR
Jason Spits
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