Brisbane-based high net worth wealth management and financial advisory business MGD Wealth has appointed Select Asset Management to manage two newly created liability-driven investment portfolios.
MGD said its liability-driven investing portfolio management strategies aimed to ensure client-specific portfolio liabilities are met when they fall due, rather than using traditional risk tolerance questionnaires.
Select chief executive Andrew Fairweather said the deal made MGD its fifth customised portfolio service customer since Select launched the service two years ago.
"MGD Wealth has a unique planning approach that fits neatly within our investment philosophy and process, and we are looking forward to helping them build multi-manager, multi-asset class portfolios that better match their client cash flow requirements with a seamless administration, portfolio construction and client value proposition," he said.
Head of investment at MGD Wealth Stephen Furness said the two portfolios, the LDI Connect 3 and 7 portfolios, evolved from the firm’s desire to match its investing process with an integrated portfolio administration service.
The firm would also be able to provide more regular and robust communication about the performance of the investment strategy ‘buckets’ that it used to manage clients’ wealth, he said.
