Powerwrap teams up with US platform provider
Wealth management platform provider, Powerwrap, has announced it has entered into a strategic partnership with the US-based alternative investments platform provider, Qualis Capital.
Under the terms of the agreement, Powerwrap was appointed for a minimum of five years as the platform’s administration partner for all of its funds and regions globally and, as a part of this role, it would be responsible for distributing funds offered by the Qualis Capital platform in Australia.
The firm said in the announcement made to the Australian Securities Exchange (ASX) that the partnership followed the results of the Powerwrap/ Investment Trends HNW Investor Report, which was released towards the end of the last year, and found a growing demand for access to alternative assets.
The Qualis Capital platform would offer a menu of hedge funds, private equity, real estate and private credit funds for investment by sophisticated investors and was expected to include around 50 funds, with the further goal of increasing the number to 100 funds over the next 12 months.
“Advisers are seeking investments choices that will deliver returns for sophisticated investors in this low interest rate environment,” Powerwrap’s chief executive, Will Davidson, said.
“Alternative assets can fit this brief, and Powerwrap, with more than $1 billion of investments in this class, is the leading Australian platform in the alternatives segment.”
AUTHOR
Oksana Patron
Recommended for you
Perpetual has released its Q2 fund flows showing a fall back into outflows after a positive Q1, as well as an update on its planned deal with KKR.
Magellan has announced a raft of executive changes including the departure of head of investments Gerald Stack after 18 years and a second appointment from Maple-Brown Abbott.
Morningstar research of seven active Australian asset managers has found they are expected to see client redemptions averaging 3.1 per cent of their FUM per annum through to FY29, with two forecast to lose more than 10 per cent.
Franklin Templeton is to get rid of its Martin Currie branding and fold them into the wider group under ClearBridge Investments and Franklin Equity Group.
