Ibbotson picks up Netwealth mandate
Morningstar investment management unit Ibbotson Associates Australia announced this week it had been selected by Netwealth to undertake manager selection and investment management.
Ibbotson said the mandate applied to four of the Netwealth Global Specialist diversified funds, the Netwealth Super Wrap and Super Accelerator superannuation funds.
The announcement said the products had approximately $5 billion in assets.
Ibbotson would also be providing Netwealth with investment consulting services including strategic and dynamic asset allocation advice, model portfolio construction, and dealer group support.
Commenting on the mandate, Ibbotson managing director and chief investment officer
Daniel Needham said Ibbotson had been selected on the basis of the depth of its investment research and dynamic investment strategy approach.
Recommended for you
Digital advice tools are on the rise, but licensees will need to ensure they still meet adviser obligations or potentially risk a class action if clients lose money from a rogue algorithm.
Shaw and Partners has merged with Sydney wealth manager Kennedy Partners Wealth, while Ord Minnett has hired a private wealth adviser from Morgan Stanley.
Australian investors are more confident than their APAC peers in reaching their financial goals and are targeting annual gains of more than 10 per cent, according to Fidelity International.
Zenith Investment Partners has lost its head of portfolio solutions Steven Tang after 17 years with the firm, the latest in a series of senior exits from the research house.
