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.
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