Another fundie targets SMSF market
BT Investment Management has established a so-called product solutions group to think specifically about tapping into different market segments, such as the self-managed super fund (SMSF) market, according to managing director and chief executive officer, Emilio Gonzales.
BTIM recorded a 15 per cent increase in funds under management in the year ending 30 September, growing from $44.6 billion to $51.5 billion.
Gonzales told Money Management the majority of new funds over the year came from the retail sector, which was mostly adviser-lead.
The strategy going forward, however, will be targeting specific client segments such as the high-net-worth market and SMSFs.
"Everyone is looking to cater for the SMSF investor — it's a third of the superannuation market — but the challenge, of course, is how do you access that," Gonzales said.
BTIM launched its Equity Income Fund for SMSF investors, which he said received good support from that market segment.
Gonzales added that more than three quarters of the SMSF market received advice in one form or another, which is why BTIM will focus on strengthening its relationship with financial planners.
"One of our key strategies is to build off our current distribution channels, particularly the relationship with Westpac across advice, private banking, and corporate superannuation," he said.
"Another way to reach the SMSF segment is through the direct channel and this year we have done that, but you've got to have the right product," Gonzales added.
"It has to be more outcome-based and more definitive about what you're offering so clients have a much clearer understanding of the value proposition and some of our thinking is along those lines."
Recommended for you
BlackRock Australia plans to launch a Bitcoin ETF later this month, wrapping the firm’s US-listed version which is US$85 billion in size.
Financial advisers have expressed concern about the impact including private market exposure is having on their tracking error budget, according to MSCI.
State Street will restrict its membership of global climate alliance Net Zero Asset Managers after the organisation dropped its flagship 2050 goals amid ESG backlash from the US.
Betashares has launched a global shares and a global infrastructure ETF as part of the firm’s strategic expansion strategy to support financial advisers in building more diversified portfolios.
