Navigator reshuffles investment menu
Navigatorhas backed the viability of the smaller companies funds management sector in a reshuffle of investment options on its Personal Investment Plan and Personal Retirement Plan services.
The group has added two small company funds - theAdvanceWholesale Australian Smaller Companies Fund and theChallengerSmaller Companies Fund - to increase options available in the sector.
Navigator research manager Stuart Fechner says the addition of two small company funds was essential to ensure adequate choice and diversification within this investment category.
“The small cap sector of the market has been a strong performer with many funds attracting a high level of inflows,” Fechner says.
The option changes saw Navigator drop theBTWholesale Property Securities Fund. ThePortfolio PartnersEmerging Shares Trust was also removed from the list as the group is in the process of closing the trust as it has almost reached its optimal size.
Navigator added a total of nine new funds to its menu, including the small cap funds, which saw a net gain of seven funds to the menu, bringing the total options available to 161.
The funds added include theBarclaysAustralian Share Fund,Perpetual’s Wholesale Concentrated Equity Fund, andPM Capital’s Australian Opportunity and Absolute Performance funds.
“Barclays and PM Capital were two new managers added to the list, with the latter attracting interest due to their ability to sell short stocks which has assisted in adding value,” Fechner says.
The changes were rounded out by the addition of the Macquarie True Index Global Bond Fund, theVanguardInternational Credit Securities Index Fund and theMerrill LynchCombined Property Income Fund.
In a further enhancement to the Navigator fund list, a new property investment category has been added, with three funds now classified within the new investment category titled ‘Property — Diversified’.
Fechner says that although funds were both added and removed from the list the outcome was a net increase in fund choice.
Recommended for you
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
Having sold Madison to Infocus earlier this year, Clime has now set up a new financial advice licensee with eight advisers.
With licensees such as Insignia looking to AI for advice efficiencies, they are being urged to write clear AI policies as soon as possible to prevent a “Wild West” of providers being used by their practices.
Iress has revealed the number of clients per adviser that top advice firms serve, as well as how many client meetings they conduct each week.
