IOOF introduces ETFs to Pursuit Select platform
IOOF has further improved on its Pursuit Select platform with the addition of domestic and international exchange traded funds (ETFs).
IOOF head of product Nick Everingham said the additions to the platform were a result of the recent growth in ETFs and adviser demand.
“ETFs are just another way for advisers to provide diversification in a client’s portfolio in a cost-efficient manner,” he said.
“Advisers and their clients will be able to access the underlying performance of the ASX top 50, 200 and listed property indexes as well as the global 100, Asia 50 and emerging markets strategies offered by BlackRock and State Street.”
IOOF previously made direct shares available through its Pursuit Select super, pension and investment products.
Recommended for you
Pendal has told investors it will start winding up its Enhanced Credit fund from December, its third fund closure this year.
A potential acquisition of Platinum Asset Management by Regal Partners will be beneficial for the “challenged” fund manager, believes Morningstar, but it has warned fund management mergers don’t always run smoothly.
Fund managers made a “big shift” into bond-sensitive sectors like utilities in September and away from cyclicals, while risk appetite is at an 11-month low.
Ahead of the RBA’s upcoming monetary policy meeting next week, BlackRock Australasia has reaffirmed the market’s view that rate cuts are likely out of the picture for 2024.