Macquarie SMA touches $100m in FUA
Macquarie's separately managed accounts (SMA) offerings on its Macquarie Wrap has $100 million in funds under administration in its first year.
The functionality was added to Macquarie Wrap in September 2014, and its investment menu was recently expanded to include 11 managers and 33 models, including models from Evans and Partners, Ibbotson, Lonsec, and JBWere.
Head of wealth product for Macquarie's wealth management division, Cameron Garrett, said: "There is strong interest in managed accounts as investors increasingly embrace the ability of SMAs to access a wide selection of assets, while taking the complexity out of managing an investment portfolio."
The Macquarie Wrap platform offers term deposits, SMAs, managed funds, domestic ASX-listed securities, international listed securities, and domestic fixed income.
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