Asgard splits up investment menu
Sealcorphas approved changes to the investment menu of its flagship master trust and wrap platform,Asgard, which will see it split hedge funds, absolute return funds and tactical asset allocation (TAA) funds into separate categories on the list of options for the first time.
According to Sealcorp director of investments and insurance Caroline Saunders, the changes have been made to clarify the nature of some funds and the risk profiles associated with them.
“We are going to represent them separately on the menu so advisers are really aware what they’re putting client funds into,” Saunders says.
“Hedge funds have additional risk attached to them and people need to be aware that that’s what they’re in.”
In other changes to the investment menu, Asgard has added theInvestors MutualIndustrial Share Fund,AMPSmall Caps Fund, Portfolio Partners High Growth Shares Trust and Portfolio Partners Emgering Shares Trust to its equities category. TheSchroderHybrid Securities Portfolio, theSagittaRothschild Global Return Fund and the BGI TRF Global Markets Fund have also been added to the menu.
Saunders says during the review of Asgard’s investment menu, Sealcorp also removed products that did not have investment grade ratings, such as theBTAustralian Share Fund.
Recommended for you
Unregistered managed investment scheme operator Chris Marco has been sentenced after being found guilty of 43 fraud charges, receiving the highest sentence imposed by an Australian court regarding an ASIC criminal investigation.
ASIC has cancelled the AFSL of Sydney-based Arrumar Private after it failed to comply with the conditions of its licence.
Two investment advisory research houses have announced a merger to form a combined entity under the name Delta Portfolios.
The top five licensees are demonstrating a “strong recovery” from losses in the first half of the year, and the gap is narrowing between their respective adviser numbers.
