Australian Unity picks up competent rating
Australian UnityFunds Management has been awarded an overall rating of ‘competent’ by research house Assirt in the areas of business management and operating capability.
HoweverAssirt’s rating of individual components of Australian Unity business management, operating capability and asset class capabilities have drawn results ranging from weak to very strong.
According to the research house, the manager’s internal research capabilities have improved, with less reliance now being placed on external consultants.
Assirt also notes that Australian Unity’s portfolio supervisory capabilities have been “strengthened to meet the commitment to external manager selection and monitoring”.
The manager’s asset allocation capabilities have been questioned, with Assirt handing down the rating of ‘weak’, while a ‘competent’ rating has been applied to the sectors of business management, operating capability, Australian shares, international shares, property securities and Acorn Capital.
The manager’s direct property and mortgages sectors saw a better run, handed a ‘strong’ rating, while the Australian fixed interest sector was the only part of the business to receive a ‘very strong’ rating.
The research house has also given all of the manager’s large cap Australian share products an ‘investment grade’ rating, the equivalent of four stars. Microcap funds managed by Acorn Capital, however, while also rated ‘investment grade’, received only three stars.
Assirt’s report says the internal commercial mortgage capability of Australian Unity has strengthened, with the research house giving these funds a rating of ‘investment grade’, or five stars, flagging the performance from the portfolio strong and true to label.
The manager’s Australian fixed interest capabilties, outsourced to UBS Global Asset Management, and pure fixed interest funds are rated ‘investment grade’ or four stars.
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.
