HUB24 adds 13 more portfolios
A new generation investment platform owned by Investorfirst, HUB24, has added 13 new non-unitised portfolios to its menu.
Providers include fund managers Aviva Investors, Millinium Capital Managers, Prime Value Asset Management and Clime Asset Management, as well as research houses Lonsec and Morningstar.
The chief executive officer of Investorfirst, Darren Pettiona, said he strongly believes that non-unitised portfolios will be the future of how Australians invest in domestic assets, particularly equities and fixed income.
“Any financial adviser who does not embrace professionally constructed, non-unitised portfolios will be doing a disservice to their clients in addition to possibly jeopardising their fiduciary duties,” Pettiona said.
Pettiona also said he was confident that there would be a shift in the balance of power to funds management groups supporting non-unitised options and that “it could even be as dramatic as the growth experienced by wholesale versus retail managers throughout the 90s”.
The HUB24 platform now offers 25 portfolio managers with 54 non-unitised funds and expects to add more portfolio managers throughout the first half of 2011.
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