Symetry launches fund-of-funds
Adelaide based retail master trust and wrap account provider,Symetry, has launched a new series of fund-of-funds investment products.
The series, to be offered under the Pinnacle Investment Trust brand, will be added to the 100 or so single manager funds already available through Symetry’s master trust and wrap accounts.
Seven choices will be offered as part of the fund-of-funds range, including a cash and an international equities portfolio, and a variety of diversified portfolios ranging from highly cautious to highly aggressive.
Symetry general manager Don Clifton says the Pinnacle trust, to be made available from November, was developed in an attempt to capitalise on a growing demand by advisers for multi-manager investment options.
“We have for some time offered full listed company share access without restriction, plus a menu of managed funds for all of our services including our personal superannuation and allocated pension products,” Clifton says.
“The dealer groups that collectively use Symetry indicated that fund-of-funds have a place in their portfolios.”
The manager list for the fund-of-funds series is yet to be finalised, but Symetry will be aiming for a core index position. This will be rounded out with exposure to selected boutique managers, particularly in the small to mid cap area, in an attempt to add value beyond the benchmark.
Symetry is owned byPerpetual Trusteesin conjunction with 19 separate dealer groups under an equity ownership plan and has been offering a range of master trusts since 1993 and now has over $600 million worth of funds under administration.
Recommended for you
The Australian Financial Complaints Authority has shared how much its member fees will rise in the next financial year.
Wealth managers have said they are experiencing difficulties in aligning their company’s in-house views with the ever-increasing needs of clients, according to MSCI.
The financial advice industry is experiencing a “champagne problem” regarding pricing, with advice firms seeing no need to cut their prices to remain competitive.
Marking a decade offering managed accounts in Australia, BlackRock has elaborated on the changes it has seen in their usage by financial advisers, with net client flows rising from 4 per cent to 25 per cent.
