BT adds multi-managers
BT Funds Management (BTFM) will launch a series of multi-manager funds within its corporate superannaution product early next month and is looking at extending the funds to retail clients through its wrap services, the dealer badged Private Label and the newly launched BT Wrap.
The group says the extension of the funds would probably occur later this year and also be available in retail superannuation in early 2002, but has drawn the line at extending the series to it’s retail unit trust range.
The multi manager series of funds will offer four options: high growth, growth, balanced and conservative through BT’s Lifetime Super product with the options to be managed by Intech.
The addition of the new series of funds boosts the number of funds in the group’s corporate super offering to 24 funds of which 14 are external funds.
Under the deal struck with Intech, BT will set the product parameters for the multi-manager series, while InTech will provide advice on asset allocation and implementation using various sector trusts.
BT says the reason for the move into multi-manager funds in corporate superannuation was the result of increasing demand from planners and clients. Over the past three years, BT’s Corporate Super Plan has grown an average of 102 per cent per annum, compared to an industry average of 28 per cent per annum according to Rice Kachor Research.
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