SMA first for Perpetual
Perpetual has launched its first separately managed account (SMA), offering investors a choice of two share portfolios — high growth and high-income yield.
The SMA, available exclusively through Perpetual Private Clients, will purchase securities on behalf of the investor “according to their needs and objectives”, said head of client solutions Cathy Duncan.
It enables investors to “retain direct ownership of their share portfolios, receive all income and franking credits, and avoid inheriting the capital gains tax of other investors as in a unit trust”.
Investors have the power to exclude up to five stocks in each portfolio and will have increased visibility of their portfolio selections, Duncan said.
“Investors are provided with easy access to the tax and performance impact of each security and all management and transaction costs.”
They will also be able to move shares in and out of an account without triggering capital gains tax as well as being able to nominate the tax parcel selection method that best suits their circumstances, she said.
“It provides professional investors with access to securities at lower transaction costs than would ordinarily be available to retail investors by trading with their selected brokers at institutional rates.”
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