Macquarie managed accounts added to over 30 APLs
Macquarie Private Portfolio Management has announced that its managed accounts have been added to the approved product lists of more than 30 financial advisory dealer groups during the past 12 months, saying this is evidence of the clear growth of the managed accounts industry.
Macquarie Private Portfolio Management has also recently signed white label and co-branded product agreements with two large groups to provide individually and separately managed accounts to the clients of those groups, the group stated.
Macquarie Private Portfolio Management said the take-up represented significant growth, given it has only recently extended its managed accounts offering externally.
It has more than 80 not-for-profit organisations as clients, while self-managed superannuation funds (SMSFs) make up 40 per cent of its total client base, with a total of $1.1 billion in funds under management.
The growth is linked to the increasing interest in managed accounts in Australia, according to Macquarie Private Portfolio Management head of distribution Adrian Stewart, who said the trend is likely to continue.
Managed accounts provide more visibility to investors who are asking for more transparency and value in the current volatile environment, he said.
"Managed accounts are also popular among SMSF clients, and with the SMSF industry continuing to grow, it makes sense to expect that managed accounts will increasingly gather interest from investors - especially among those who are planning for retirement," he said.
Tax efficiency is another factor behind the current interest in managed accounts, according to head of Macquarie Private Portfolio Management Damian Graham.
This is especially important for SMSFs, particularly with regard to the likely after-tax outcome of an investment decision, he said.
Recommended for you
Investment executives say the benefits of real assets for client portfolios can “absolutely” outweigh the illiquidity risk, provided there is a good understanding of its risks and returns and of client goals.
Fund manager GSFM has appointed a key account manager for Queensland, following the appointment of a head of retail distribution last month.
The struggle to recruit specialist expertise in alternative asset classes means senior analyst salaries are surpassing $200,000 as fund managers compete for talent, observes Kaizen Recruitment.
TWC Investment Management, which launched in September, has unveiled a long-only equity fund targeting global wealth creator stocks.
