AB managed portfolio added to Netwealth platform
Asset manager AllianceBernstein (AB) has announced that its AB Concentrated Global Growth Managed Portfolio is now available on Netwealth platform.
AB’s managing director, Australia Client Group, Ben Moore, said the announcement came at a time when Australian investors were increasingly interested in owning international shares directly through separately managed accounts (SMAs).
“In addition to the benefits of the SMA structure, the portfolio represents an attractive proposition based on its long track record of outperformance under its UK-based investment team,” he said.
He said the SMA structure made it also easier for investors to be taxed on their individual cost base.
The portfolio, which aimed to focus on 25-30 global stocks, all of which were high quality with the potential to deliver superior investment returns, was launched in Australia in 2015 and had a strong track record going back more than 10 years.
“The strategy surpassed $100 million in assets under management in Australia this year,” Moore added.
“Investors appreciate the opportunity to diversify their portfolios with exciting international names such as Mastercard, Facebook and Ali Baba.”
In 2018 and 2019, the portfolio’s performance resulted in AB being named SMA Provider of the Year in the Money Management Lonsec Fund Manager of the Year Awards.
The announcement also brings to four the number of AB strategies on the netwealth platform, with others including: the AB Dynamic Global Fixed Income Fund, AB Global Equities Fund and AB Managed Volatility Equities Fund.
AUTHOR
Oksana Patron
Recommended for you
Specialist wealth platform provider Mason Stevens has become the latest target of an acquisition as it enters a binding agreement with a leading Sydney-based private equity firm.
An independent expert has ruled the Perpetual deal with KKR is no longer in the best interest of shareholders in light of the increased tax liabilities.
The Australian wealth management firm has named a custodian for its MLC and OnePath businesses following an extensive tender process.
Global real asset manager CapitaLand Investment has announced a key acquisition from Wingate as part of its growth strategy in Australia.
