MLC boosts platform menu
MLChas added a number of external single and multi-manager funds to its MasterKey investment platform to provide advisers with a ‘happy medium’ between a fully implemented and discretionary investment solution.
The additions, which include 16 external funds and four multi-manager funds, will be effective as of tomorrow and aid those advisers wanting to partially outsource selecting investments while retaining the ability to choose funds and tweak portfolios in terms of investment style or sector bias.
According to MLC chief executive officer retail investments, Steve Tucker, the changes complement the group’s Horizon Series, which has seven implemented portfolios compiled using 20 separate fund managers.
MLC also has its MasterKey Custom platform, which has 150 different options for investors wanting a high level of choice and flexibility.
“We recognised that there was a need for an investment solution that sat in the middle of these two offers, providing the cost efficiencies of an outsourced portfolio, with the flexibility to tailor the portfolio with a limited menu of external funds,” Tucker says.
The four multi-manager funds are the Global Share Growth Style Fund, the Global Share Value Style Fund, the Australian Share Growth Style Fund and the Australian Share Value Style Fund.
While for the single managers across a range of asset classes,Vanguardis the biggest winner with five of its funds represented withABN AMROhaving two of its funds included.
Other managers added includeUBS Global Asset Management, SchroderInvestment Management,IOOF/Perennial Investment Management,Investors Mutual,Equity Trustees, Dresdner RCM andPerpetual Investments.
Tucker says the additions are the latest initiative of the Amazon program.
Recommended for you
Multiple industry organisations have shared their thoughts on AFCA’s proposed rules amendment, supporting the idea of firms being named publicly when they fail to comply with determinations.
Channel Capital has appointed a head of investment oversight who joins from 14 years at asset consulting firm JANA Investment Advisers.
Licensee Centrepoint Alliance has completed the acquisition of Brighter Super’s annual review service advice book, via Financial Advice Matters.
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
