HUB24 launches multi-currency functionality in managed portfolios
Multi-currency functionality has been added to the HUB24 platform, which will give investment managers the capability to include up to ten foreign currencies when implementing managed portfolio strategies.
It would be available within international managed portfolios on the platform and managers could choose to settle international securities transactions and pay international dividends in either foreign currency or Australian dollars.
Managed portfolio investment strategies could now include holding foreign currencies to plan for trading in that market.
Andrew Alcock, HUB24 managing director, said the platform’s managed portfolio offer provides valuable capabilities for investment managers and advisers to help satisfy client needs.
“Arming investment managers with increased access to foreign markets can enable them to more effectively implement investment strategies, minimising currency conversions, which in turn can provide better outcomes for clients,” Alcock said.
Earlier this year, HUB24 introduced fee reductions to help international-listed securities administration fees and foreign currency conversion fees on IDS and super products.
Recommended for you
There is one specific risk that is a significantly higher concern for financial services directors compared to companies overall and is impacting their risk appetite, according to the AICD.
Global fund managers are shunning bonds, with the asset class seeing the largest drop in allocations in more than 20 years.
Australian Ethical has seen its funds under management reach $10 billion, driven by organic customer growth and superannuation contributions.
Financial advisers will have access to private equity investments run by WTW for the first time as it launches a pooled fund to provide savers with access to traditionally institutional assets.
