HUB24 launches multi-currency functionality in managed portfolios

HUB24/platforms/launch/managed-portfolios/Andrew-Alcock/

25 July 2019
| By Chris Dastoor |
image
image image
expand image

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.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

5 months ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

5 months ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

7 months ago

Commonwealth Bank has formally dropped to zero advisers following LGT Crestone’s acquisition of its advice arm – some six years on from the Hayne royal commission. ...

3 weeks 6 days ago

The FSCP has issued a written direction to an adviser who charged clients “extraordinary fees” for inappropriate and conflicted advice, as well as encouraged them to swit...

1 week 3 days ago

ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager. ...

2 weeks 5 days ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
92.15 3 y p.a(%)
3