Fidelity launches first SMA
Fidelity has launched its first Australian equity separately managed account (SMA) in partnership with platform provider Praemium.
The actively-managed Australian equity model would be managed by Fidelity portfolio manager Kate Howitt.
Fidelity said the decision to launch an SMA had opened a new channel for investors to access Fidelity’s global research capability and for the firm to build stronger relationships with clients.
Simon Glazier, Fidelity head of wholesale sales, said: “The SMA structure makes sense for the right client because investors own the shares they’re invested in which can offer tax benefits but don’t have administrative burden of investing directly in the stock market. At the same time, they’re benefiting from the expertise and research resources of a professional manager”.
Damian Cilmi, Praemium head of investment managers and governance, said: “Praemium is committed to providing its clients with access to high-quality managers and investment options. As one of the largest, most experienced global asset managers, Fidelity International recognises the importance of offering managed account solutions to meet the diversified and growing needs of investors and we are delighted to be their platform of choice for their first SMA”.
AUTHOR
Laura Dew
Recommended for you
While the Financial Services and Credit Panel can take action on individual advisers’ misconduct, a compliance professional unpacks why the panel does not always subject licensees to further action.
Platform HUB24 has reported $100 billion funds under administration in its latest quarterly results, helped by a 90 per cent rise in platform net inflows.
Progressing digital advice and seeking breakeven in the advice division are part of AMP’s goals for the upcoming financial year as it approaches 1,000 financial advisers in its licensee.
The Rask Group, in partnership with InvestSMART’s new investment platform, has announced three ETF strategies, aimed at empowering financial advisers to create and manage their own ETF portfolios.
