Zurich ‘re-blends’ manager line-up
Zurich Financial Services Australia(ZFSA) has replaced a number of investment managers in the Zurich Blended Series following an extensive review of incumbent managers byvan Eyk Research.
Following the review the group has moved to replaceMaple-Brown Abbott,Colonial First State,ABN Amro, NCI Capital,State Street, andBT, as well as one of Zurich’s own funds.
The new line-up will seeAllianz Dresdner Asset Management, Alpha Investment Management, Capital International,Deutsche Asset Management,GMO AustraliaandMacquarie Investment Managementjoin the list.
Managers that were left unchanged includeSchroder Investment Management Australia, Wellington Management and Zurich Investment Management.
After taking over fromTowers Perrinas a consultant on the investments, van Eyk recommended a selection of investment managers for the funds that are rated A or AA — the highest van Eyk ratings available.
ZFSA investments director Matthew Drennan says the blended range is part of Zurich’s strategy to establish investment partnerships rather than to become a specialist manager.
He also says the products allow advisers to provide their clients with a combination of wholesale investment managers not normally available to retail investors.
The new blends are available on Zurich’s i.super_invest master fund, and will also be accessible through Zurich’s superannuation plan, allocated pension and wholesale superannuation range from early 2004.
The funds offered within the Zurich Blended Series are the managed stable, balanced, managed growth, priority growth, Australian shares and international shares funds.
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.
