Skandia revamps
Ross Laidlaw
Skandia has announced a range of changes to its multi-manager funds arrangements flowing from the scale generated by last year’s acquisition of Intech.
Skandia chief executive Ross Laidlaw said the group had implemented superior portfolio structures designed to boost after-tax outcomes as well as improve the return potential and risk/return characteristics of the Skandia funds.
He said mandate structures had been introduced where appropriate for Skandia multi-manager funds, with the mandate structuring meaning that the funds could tap into quality managers not open to new investors or only available through mandates.
Laidlaw said this also enhanced the funds’ flexibility and efficiency when implementing investment strategies, and investors benefited from greater transparency of their holdings.
He said centralised portfolio management (CPM) techniques had also been introduced to manage investments in Australian shares held by the Skandia multi-manager funds, with Vanguard being appointed to manage a CPM portfolio.
Laidlaw said that as a result of portfolio structure improvements to the Skandia funds, a number of manager changes in the areas of Australian and international equities, property and fixed interest had been implemented through September and early October. He said a specialist transition manager, focused on maximising efficiency, was employed to executive the manager changes and, where possible, stocks were transferred in specie so transaction costs had been minimised.
AUTHOR
Mike Taylor
Recommended for you
A former Brisbane financial adviser has been charged with 26 counts of dishonest conduct regarding a failure to disclose he would receive substantial commission payments for investments.
Inefficient data processes and systems mean advisers are spending over half of their time on product implementation and administration at the expense of clients, according to research.
With the regulator announcing its enforcement focus for 2025 last week, law firm Hall & Wilcox examines the areas which have dropped down the list in priority for the regulator.
South Australian financial advice and accounting business Perks has extended its paid parental leave program from 12 to 26 weeks, putting it on par with big four firms.
