SMAs on Macquarie Wrap boom
Separately managed accounts (SMAs) have continued on their growth trajectory in Australia with Macquarie announcing SMAs on its Macquarie Wrap platform have surpassed $2 billion in funds under administration (FUA).
Cameron Garrett, head of wealth product and technology for Macquarie Wealth Management, said SMA FUA had doubled over the past year, and it’s a testament to the continued popularity of the investment style.
Garrett said Macquarie had seen that a larger proportion of flows into the Macquarie Wrap platform were being directed into SMAs in response to the value the products could provide to clients.
“The structure of SMAs means that advisers and clients have greater transparency and control when managing their portfolios,” he said. “SMAs also provide significant efficiency and functionality gains for advisers, enabling them to have more high value conversations with their clients.”
AUTHOR
Anastasia Santoreneos
Recommended for you
The UK-based global asset manager has formed a new group executive committee to accelerate its growth strategy following the commencement of its new CEO this month.
Momentum Media has announced 26 winners across 10 individual and 15 group categories for its brand-new Australian AI Awards.
The financial services industry is currently “overwhelmed with quality and quantity of candidates”, Kaizen Recruitment explains, leading executives to face 12-month long recruitment processes.
Zenith Investment Partners has appointed an experienced research executive as its new group head of research following the departure of Bronwen Moncrieff.
