Six new options meet adviser demand: Zurich
Matthew Drennan
Zurich’s addition of six new retail investment options to its superannuation plan and allocated pension products reflects areas its advisers felt were lacking from the existing investment menu.
The six new options are the ING Wholesale Capital Stable Trust, the Perpetual Wholesale Balance Growth, Investors Mutual Australian Share, Advance Imputation Wholesale Units, RREEF Global (ex Aust) Property and the Zurich Investments Equity Income Fund.
Zurich’s director of investments Matthew Drennan said the company conducted a range of focus groups and surveys with advisers to determine which asset classes should be added.
“Our goal is to provide quality retail options to clients without swamping them [with options], which leads to confusion,” he said.
Drennan said the six new options had not come at the expense of some other less popular options.
“At this stage, we have just looked at the options advisers were looking to add.”
He indicated that Zurich regularly reviewed the fund flows into its various investment options in order to assess their feasibility.
“If they are not receiving sufficient flows, we do move [them] off the menu, in consultation with our advisers.”
Among the new investment alternatives is the Zurich Investment Equity Income Fund, managed by specialist derivatives boutique Denning Pryce.
This fund utilises leading Australian stocks and derivatives, without using financial leverage, in order to deliver high yields.
These latest additions bring the total number of options for the Zurich Superannuation Plan and Zurich Allocated Pension to 26 and 23 respectively.
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.
