ANZ Wealth has announced the addition of separately managed accounts (SMAs) to its Grow Wrap investment platform.
The business announced the addition of the SMAs today, claiming that it would provide greater flexibility for investors.
It said that, under the move, ANZ would introduce 13 new SMAs to professionally managed portfolios of direct equities and exchange traded funds (ETFs).
Confirming the move, ANZ Wealth Head of Wrap, Dean Faglioni said the enhancement to the wrap platform represented a response to investor and adviser feedback.
“The SMAs will offer investors the benefits of investing in traditional managed funds, including professional investment management, but with greater transparency and tax advantages,” he said.
“This can reduce the complexities associated with direct share investment selection, trading and administration.
“For advisers, the availability of SMAs means less time spent on administration and more time managing their clients’ overall investment strategies,” Faglioni said.