SMAs on Macquarie Wrap top $1b
Macquarie has announced that its separately managed accounts (SMAs) on the Macquarie Wrap investment platform have surpassed $1 billion in funds under administration (FUM), in three years after SMAs were added to the platform.
Macquarie Wealth Management’s head of wealth product and technology, Cameron Garrett, said: “SMAs offer significant benefits with a streamlined and consolidated approach to portfolio management, allowing clients to receive all the benefits of investing in traditional managed investments, with greater transparency and the tax benefits associated with direct share ownership.
“Our focus is on providing investment options and products that make a real difference to advisers and their clients, and we’re continuing to invest in our platform to ensure we remain at the forefront of the market.
“For advisers, managed accounts offer greater efficiencies that enable them to focus on having more holistic conversations in order to deliver outcomes for clients.”
Macquarie’s platform currently offers to its clients and advisers a range of investment options including 30 managers, 98 SMAs and 813 managed funds, it said.
AUTHOR
Oksana Patron
Recommended for you
The Reserve Bank of Australia's latest interest rate announcement has left punters disheartened on Melbourne Cup Day.
Equity Trustees has been selected as the responsible entity for two new funds, one from Coller Capital focused on private equity and a second investing in fixed income from FIIG Securities.
Funds managers are being urged by financial advisers to improve their “outdated” education and communication about alternative funds as they actively target them towards retail clients.
GAM Investments has appointed Eric Finnell as its managing director for Australia after his predecessor left to take up the CEO role at Global X.
