MLC managed account strategies surpass $2bn FUM

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MLC Asset Management’s managed account offerings have hit $2 billion in funds under management (FUM), underpinned by strong demand from advisers.

The managed account strategies reached the $2 billion FUM milestone less than four years after it was launched, following the $1 billion mark it surpassed in April 2023.

MLC Asset Management, owned by Insignia Financial, has operated for more than 35 years and has $85 billion in total FUM (as at 31 December 2023).

According to the firm, its managed account solutions provide portfolios for clients with varying goals, time horizons and fee expectations.

The diversified portfolios were recently added to its Expand investment platform. They are available on both the Expand Essential option, the low-cost wrap for clients with simpler needs, and the Expand Extra option, the full-service wrap for investors with more complex needs.

“We are pleased to see our managed account strategies continue to go from strength to strength, with funds under management doubling over the last 12 months,” commented Jason Komadina, MLC chief commercial officer.

“We’re dedicated to providing advisers with access to transparent, diversified investment solutions to meet the changing needs of clients and believe managed accounts will continue to form a key part of the advice proposition.”

One of the key benefits of managed accounts is that it streamlines portfolio management and offers access to a diversified set of underlying asset managers. As a result, advisers gain more time to spend on client engagement and overarching business growth.

Recent research from IMAP highlighted that Australians have invested approximately $194.8 billion in managed accounts in the six months to 31 December, a rise of 20.4 per cent from $161 billion.

Moreover, an Investment Trends and SPDR report found 56 per cent of advisers use managed accounts, up from 18 per cent a decade ago. This figure could rise to three-quarters of advisers in the coming years, according to the research forecast.

“With more than half of advisers utilising managed accounts, it’s encouraging to see the continued demand for our portfolios,” said Anthony Golowenko, MLC portfolio manager.

“Harnessing the horsepower of the broader investment team to consistently deliver for our clients really gets to the heart of what we’re all striving to achieve. We take an active ‘hands-on’ approach to managing our portfolios and regularly review asset and subasset class allocations to deliver diversity and resilience over changing market conditions,” he added.

Golowenko noted the MLC team made some key changes to its strategies in the December quarter. This included the expansion of its credit exposure, particularly in investment grade credit.

In addition, it increased its exposure to active global REITs to improve the risk reward potential in a persistently volatile market.

Advisers can currently access MLC’s managed accounts through the Expand, North, Macquarie Wrap, BT Panorama, HUB24, CFS FirstChoice, Rhythm, Grow Wrap and Voyage platforms. 

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