netwealth launches managed account
Investment platform provider netwealth has launched a managed account to give access to a range of multi-asset investment models, and is integrated within the platform.
The managed account offers automated investment management and monitoring, where assets are automatically rebalanced without the need to individually trade and execute changes.
Joint managing director Matt Heine said this structure, along with new technology, will cut the cost for advisers.
"To date managed accounts have been a relative niche product; however we are confident that this is now changing," he said.
Assets are held in the investor's account under the managed account, which means their tax will be based on their investment activity, not the broader fund.
Investors can also "lock, exclude and substitute assets as well as set minimum trade and holding sizes", netwealth said.
AUTHOR
Malavika Santhebennur
Recommended for you
Clime Investment Management has welcomed an independent director to its board, which follows a series of recent appointments at the company.
Ethical investment manager Australian Ethical has cited the ongoing challenging market environment for its modest decrease in assets over the latest quarter.
Commentators have said Australian fund managers are less knowledgeable compared with overseas peers when it comes to expanding their range with ETFs and underestimating the competition from passive strategies.
VanEck is to list two ETFs on the ASX next week, one investing in residential mortgage-backed securities and the other in Indian companies.
