Ord Minnett global fund added to major platforms
Ord Minnett’s Global Dynamic Fund has been added to five major dealer group platforms, and the Sydney-based asset manager predicts it will be added to several more by the end of the year.
Ord Minnett managing director Walter Lewin said the fund’s strong performance since its inception in February this year, favourable research ratings (including a four-star rating from Standard & Poor’s) and strong adviser support have prompted Macquarie Wrap, Avanteos Beacon, Wealthtrac and Dominion Equity to add it to their platforms.
The fund, which uses a JPMorgan bottom-up share selection strategy to capture growth and value share opportunities in global equity markets, has outperformed its benchmark — the MSCI World Index — by 4.8 per cent from inception to July 31, this year. Returns for the six months ending August 31, 2007, are 5.6 per cent.
Lewin said Ord Minnett was pleased with Australian retail investors’ support for the fund. The JPMorgan Global Dynamic Strategy, which has more than $8 billion in assets under management globally, had previously only been available to United States and European-based investors.
“The fund fits well within portfolios as a core global equity allocation and is also complementary to many other global equity funds,” he said.
“The very strong and consistent outperformance of Global Dynamic, including over the last few months through difficult markets, makes the fund appealing.”
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.
