Netwealth launches new Magellan AM mandates
Netwealth has added two new mandated strategies from Magellan Asset Management to its global specialist series (GSS) investment range.
Both Magellan GSS Global Equities and GSS Infrastructure Funds, which were based on the same strategy as Magellan’s flagship funds, would offer advisers and investors an active exposure against the backdrop of a sector-focused strategy.
The two funds would be available in Netwealth’s core account option and its plus account option, the firm said.
“Advisers have been asking for a greater range of strategic investment options in our core account offer and hopefully with this addition we have provided them with more options to construct portfolios to meet their client’s needs,” Netwealth’s joint managing director, Matt Heine, said.
Magellan’s general manager of distribution, Frank Casarotti, said that both companies had been working together since 2007 and Magellan had over $1.37 billion funds under management (FUM) on Netwealth’s platforms to date.
The inclusion of the new Magellan GSS products would allow the firm to further support advisers looking to build diversified portfolio solutions for their clients, he added.
Recommended for you
T. Rowe Price believes Australian growth is successfully managing to shrug off consumer weakness, but the firm’s multi-asset team is not yet positive enough to increase its underweight position.
Iress has issued an update denying the validity of “certain statements” made by an alleged threat actor, following a cyber incident last weekend.
The latest budget papers have outlined a $10 million provision for ASIC greenwashing enforcement activity as well as funds for a sustainable labelling regime to be partially met by industry levies.
Betashares has expanded its fixed income solutions with the launch of a new ETF offering exposure to subordinated bonds issued by the big four Australian banks.
