HUB24 launches multi-currency functionality in managed portfolios
Multi-currency functionality has been added to the HUB24 platform, which will give investment managers the capability to include up to ten foreign currencies when implementing managed portfolio strategies.
It would be available within international managed portfolios on the platform and managers could choose to settle international securities transactions and pay international dividends in either foreign currency or Australian dollars.
Managed portfolio investment strategies could now include holding foreign currencies to plan for trading in that market.
Andrew Alcock, HUB24 managing director, said the platform’s managed portfolio offer provides valuable capabilities for investment managers and advisers to help satisfy client needs.
“Arming investment managers with increased access to foreign markets can enable them to more effectively implement investment strategies, minimising currency conversions, which in turn can provide better outcomes for clients,” Alcock said.
Earlier this year, HUB24 introduced fee reductions to help international-listed securities administration fees and foreign currency conversion fees on IDS and super products.
AUTHOR
Chris Dastoor
Recommended for you
Women are expected to inherit US$124 trillion through the intergenerational wealth transfer, but Capital Group has found they are twice as likely to rely on social media for advice over a financial adviser.
Challenger Investment Management has raised $350 million during the offer period for its new ASX-listed investment structure.
A week after Lonsec downgraded multiple funds from Metrics Credit Partners, rival research house Zenith Investment Partners has opted to retain its ratings for the same funds.
Strong adviser engagement has helped Praemium reach $1 billion in inflows on its Spectrum offering, with a deal with Western Australian wealth firm Euroz Hartleys expected to add as much as $2 billion.
