IOOF answers demand for more investment options
IOOF has answered the demand for increasingly popular asset classes by adding over 70 investment options to its flagship platform, Pursuit Select.
IOOF believes the additions better place the platform to meet demands for asset classes such as protected cash, infrastructure, commodities and alternatives, as well as a wide range of specialist sectors.
According to IOOF, a key challenge in the design of the new investment menu was balancing choice with concise and easy navigation.
IOOF uses a ‘best of breed’ approach to investment choice, balancing the quality and quantity of its funds, IOOF head of product and marketing Nick Everingham said.
“Some platforms overwhelm their clients with hundreds upon hundreds of choices and many of these are low quality funds. At the other extreme are those with severely limited choice – or those that simply don’t’ review their options regularly enough,” Everingham said.
The new Pursuit Select investment menu is divided into nine major asset classes with 22 sub-classes. Pursuit Select now has 192 investment options across the nine asset classes.
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.
