Matrix drops van Eyk for Morningstar
|
|
The decision taken by Matrix Planning Solutions to change investment research consultants will be complemented by an increased allocation towards passive investment management products.
Matrix managing director Rick Di Cristoforo said the decision taken to change consultants to Morningstar from van Eyk Research was one taken after long and careful consideration.
“On the research side, we’ve obviously appointed Morningstar as our new consultants but it seems people often want to put a negative spin on these things. We don’t see it that way. It’s been a long process dealing with a lot of people and we’re now happy with where we’re at.”
Meanwhile, Di Cristoforo said the decision to increase allocations to index funds wasn’t a reflection of any belief in the benefits of passive over active investment management, but rather the fact that when markets are efficient there is probably a greater role for index products while less efficient markets are more ideal for active management strategies.
“I wouldn’t say necessarily we’re taking on any greater focus towards index management or ETFs [exchange-traded funds] generally, but it’s rather just a rounding up of the available products on our approved list,” Di Cristoforo said.
Di Cristoforo confirmed the series of State Street Global Advisors-issued SPDR ETFs were already on the approved list alongside iShares.
However, unlike managed fund mandates, dealer groups are generally not required to negotiate terms or volumes with the ETF issuer. Once the ETF is included on an approved list, the ETF is added to on a portfolio-by-portfolio basis.
AUTHOR
Mike Taylor
Recommended for you
Money Management examines the share price of financial advice licensees over one year to 31 March, with M&A actions in the final quarter having a positive effect for two licensees.
A $3.5 million settlement for victims of Melissa Caddick has been approved by the Federal Court following an initial agreement last December.
The Reserve Bank of Australia has delivered its first rate decision since the introduction of a new board structure last month.
Digital advice provider Otivo has launched an interactive tool, powered by artificial intelligence and Otivo’s own advice engine, to help answer client questions.
