Macquarie SMAs pass $10bn

Separately managed accounts on the Macquarie Wrap platform have passed $10 billion in funds under management. 

This was double the figure in February 2021, when FUM was $5 billion and Macquarie attributed the rise to advisers using SMAs for increased efficiency.

Advisers could also use SMAs to complement their own service proposition with expertise from other investment managers.

There were now more than 370 SMA models across 62 investment managers on the Macquarie Wrap platform, and the firm said it was keen to expand its accounts offering in the future.

Michelle Weber, head of wealth product and technology for Macquarie’s banking and financial services group, said: “As a flexible investment option, managed accounts provide advisers with increased efficiencies and transparent portfolios for their clients, which is contributing to their ongoing popularity.
 
“The structure of SMAs means that advisers and clients have increased visibility over the portfolio. By being able to view the underlying securities and account activity, advisers and clients can remain close to the investment decisions being made.”

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Research this week by Investment Trends and State Street Global Advisors of over 600 advisers found 56 per cent of surveyed advisers were using managed accounts, up from 17 per cent a decade ago. 

SMAs on a platform were the most commonly used way of accessing managed accounts, the report said, and over a third of those who used them did so on custom-built models.