Select added to AXA and CFS platforms
Select Asset Management’s Alternatives Portfolio has been added to AXA’s North platform as well as Colonial First State’s FirstWrap.
The portfolio has exposure to a number of global and local alternative strategies, including hedge funds and managed futures, as well as alternative assets such as infrastructure, private equity, commodities and precious metals, according to Select.
“We are seeing strong demand for [the Select Alternatives Portfolio] from a large number of dealer groups and platforms which recognise that trying to pick individual alternative investments is fraught with potential reputation and compliance risk,” said Select Asset Management chief executive Andrew Fairweather.
Partnering with a firm like Select to take care of manager selection and portfolio construction was a smarter way to access alternatives, he said. Select was one of the few alternatives funds not to limit or close redemptions during the global financial crisis, he added.
The Select Alternatives Portfolio, which was launched in 2004, already appears on a number of platforms and wraps including Asgard, Navigator, MLC Masterkey Custom and Macquarie Wrap. It is available for investments of more than $25,000.
Recommended for you
The central bank has released its decision on the official cash rate following its November monetary policy meeting.
ASIC has cancelled the AFSL of a Melbourne-based managed investment scheme operator over a failure to pay industry levies and meet its statutory audit and financial reporting lodgement obligations.
Melbourne advice firm Hewison Private Wealth has marked four decades of service after making its start in 1985 as a “truly independent advice business” in a largely product-led market.
HLB Mann Judd Perth has announced its acquisition of a WA business advisory firm, growing its presence in the region, along with 10 appointments across the firm’s national network.
