Mason Stevens launches Magellan managed account



Mason Stevens has launched a managed account product based on the Magellan Global Equity Model Portfolio.
It said the portfolio would be delivered as a managed account and would be administered by Mason Stevens on its Managed Account service.
The announcement said the portfolio mirrored the highly successful Magellan Global Fund, which had more than $3.5 billion in funds under management and had delivered a more than 39 per cent return to investors as at 30 June, 2013.
Commenting on the development, Mason Stevens chief executive Thomas Bignil said the portfolio had been very well received by financial advisers and their clients during pre-marketing.
Magellan's general manager, distribution, Frank Casarotti said his company had recognised the value in offering its flagship global fund within a managed account structure, given the rising demand from advisers.
"Investors, particularity SMSFs, want greater visibility of their investments and managed accounts provide this," Bignil said.
Recommended for you
ASIC has issued infringement notices to two AFSLs over financial advisers providing personal advice while they were unregistered.
Australian retirees could increase their projected annual incomes by as much as 51 per cent through comprehensive financial advice, according to a Vanguard study, but cost continues to be an issue.
AMP has announced a senior appointment to its North leadership team, reinforcing the firm’s commitment to the advice industry.
Despite the financial adviser exam being rooted in ethics, two professional year advisers believe the lack of support and transparency from the regulator around the exam is unethical.