Aust Unity revamps managers
Australian Unity has revamped the management of some of its products using a multi-manager approach.
Salomon Smith Barney now manages 50 per cent of Australian Unity’s Property Security Fund, with the rest divided between Credit Suisse and County. Previously Credit Suisse was the sole manager.
Australian Unity has revamped the management of some of its products using a multi-manager approach.
Salomon Smith Barney now manages 50 per cent of Australian Unity’s Property Security Fund, with the rest divided between Credit Suisse and County. Previously Credit Suisse was the sole manager.
Management of the International Sharemarket Fund has seen three new managers appointed to replace UBS Brinson, which previously looked after 100 per cent of the fund.
The new managers are Credit Suisse and Capital International jointly looking after 35 per cent of the fund, Wellington Management with 35 per cent and County with 30 per cent.
UBS Brinson was the sole manager International Bond Trust, but 10 per cent of the fund has now been given to Credit Suisse.
Australian Unity general manager financial services Craig Dunstan says the review of the fund managers was conducted with the assistance of van Eyk Research and Assetware.
The switch to a multi-manager approach, recommended by the research, was no problem as the company had always used the manager-of-managers approach in the past, Dunstan says.
“Our own depth of knowledge of the investment management industry and its participants has been complemented by external research houses to assist us in manager selection,” he says.
“After an extensive selection process, managers are monitored by specialist portfolio supervisors to ensure the funds are managed in accordance with the mandates.”
Dunstan says the aim of the multi-manager approach is to boost the company’s profile in property, securities and international shares retail markets.
As part of the revamp of these products, Australian Unity has appointed James O’Keefe from Heine and Austplanners research analyst Darren Lee as portfolio supervisors.
Recommended for you
As advisers risk losing two-thirds of FUA during the $3.5 trillion wealth transfer, two co-founders underscore why fostering trust with the next generation is vital to retaining intergenerational wealth.
As advisers seek greater insights into FSCP determinations, what are the various options considered by the panel and can a decision be appealed?
Amid the current financial adviser shortage, advice firm Link Wealth is looking to expand its financial literacy program for high school students across the country.
TAL Risk Academy has updated its range of ethics courses to help financial advisers meet their CPD requirements following adviser feedback, including interpreting FSCP determinations.
