SMAs attract fund flows and insurance
MLC has reported that it has attracted $7 million to three new separately managed accounts (SMA) launched ten weeks ago and added to its MLC Wrap and Navigator platforms.
The launch of the three SMAs — the Antares Listed Property, JBWere Listed Fixed Income and Redpoint Industrials options - have increased MLC's SMA suite to 15 portfolios.
MLC, General Manager - Retail Wealth Platforms, Kathy Vincent said there had an exponential increase in investor demand and market growth for SMAs since the launch of its first SMA in 2009
"The early signs from our three new products support the view that advisers are increasingly turning to the SMA market. In a low yield environment it is important for advisers — and investors — to have a variety of income-focused investment options."
Praemium has added Zurich's range of life insurance products to the retail super version of its platform with advisers able to offer the products inside or outside of superannuation.
The Zurich products will be available through Praemium SuperSMA with Praemium, Commercial Director, Andrew Varlamos stated the inclusion of Zurich products on the platform provided more choice and flexibility for advisers and will sit alongside the current choices of TAL and AIA on the platform.
AUTHOR
Jason Spits
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