APIR extends coding to SMAs
APIR Systems is extending its coding system to separately managed accounts (SMAs).
"SMAs and their models have less structure than we see in funds and proliferate through white labelling so it has been a major exercise for us, but I think the effort will be a worthwhile contribution to the industry," said APIR managing director Andy Hutchings Broso.
The head of strategic developments at APIR, Bob Luff, said that SMAs were gaining traction in the market and needed identification.
Damian Holland, a director of the Institute of Managed Account Providers, said the new APIR coding of SMAs would help simplify the distribution and processing of accurate information about the accounts.
APIR issues codes to fund managers, trustees and financial products in the Australian market.
AUTHOR
Benjamin Levy
Recommended for you
With HNW investors representing the largest market for alternative assets, Praemium and CoreData research underscores why this presents a compelling opportunity for advisers.
Having completed the successful integration of Diverger, Count has upgraded its forecast for expected synergy benefits achieved by the acquisition by a third.
Australia’s largest licensee has seen the biggest number of adviser losses over the past week, while the expected wave of new entrants has boosted overall adviser numbers.
Iress has increased its forecast adjusted EBITDA by $5 million for the 2023/24 financial year in light of the sale of its platform business to Praemium and hinted at a return to dividend payments.
