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
A financial advice firm has been penalised $11 million in the Federal Court for providing ‘cookie cutter advice’ to its clients and breaching conflicted remuneration rules.
Insignia Financial has experienced total quarterly net outflows of $1.8 billion as a result of client rebalancing, while its multi-asset flows halved from the prior quarter.
Prime Financial is looking to shed its “sleeping giant” reputation with larger M&A transactions going forward, having agreed to acquire research firm Lincoln Indicators.
An affiliate of Pinnacle Investment Management has expanded its reach with a London office as the fund manager seeks to grow its overseas distribution into the UK and Europe.
