MFS targets planners for growth
Boutique fund managerMFS Groupis to target both boutique and large planner dealerships following the roll-out of a wholesale version of the MFS Premium Income Fund today.
The group, which was established in 1999 and offers over 50 listed and unlisted investment schemes, has to date directly marketed to retail investors but is now aiming to grow its business through intermediary financial advisers channels.
The move includes the imminent appointment of three business development managers - one for each of the New South Wales, Queensland and Victorian states.
According to MFS Group general manager distribution services Sean Preece, the wholesale version will initially have a zero management expense ratio and a minimum investment level of $500,000 will be available to planners through master trust and wrap platforms.
The wholesale premium income fund will invest directly into the retail version, which has $340 million in funds under management, and will therefore have the same investment philosophy and risk profile.
MFS group executive chairman Phil Adams says the move illustrates how the group, which has more than $1 billion under management, is quickly maturing while maintaining a culture of innovation.
“This is a whole new market for MFS and one we expect to pursue with the same vigour and success that we have achieved in the retail market,” Adams says.
AUTHOR
Craig Phillips
Recommended for you
Wealth Data has revealed the top five licensees for financial adviser growth over the September quarter, with more than 150 advisers joining in Q3 overall.
Former Sydney financial adviser, David Valvo, has pled guilty in court to a charge of dishonest conduct.
Building a network of mentors and coaches with varied skill sets could help women achieve their career goals, according to an FBAA executive.
AMP has reported its Q3 results and provided a progress update on the divestment of its advice division to Entireti.
