Mainstream launches SMA platform
Mainstream Group Holdings has announced it will launch a separately managed account (SMA) platform, with Perpetual Corporate Trust to become the responsible entity of the proposed SMA.
Mainstream Fund Services said it would offer a web-based SMA investment solution initially in Australia, which would supplement its existing tax, corporate action and reconciliation service for managed accounts.
Advisers and clients would have access to specialised investment models across 25 international markets.
Mainstream chief executive, Martin Smith, said the SMA solution would be the first pillar in their digital market entry strategy to address adviser concerns about cost, independence and functionality.
“Mainstream will address these concerns by offering enhanced cash, online functionality, transacting and onboarding - including in specie transfers - and electronic trading in international equities and cash via an independent, lower fee digital platform,” he said.
“Launching an SMA platform is highly complementary to the robust fund administration offering Mainstream is known for and will extend the range of services we can offer our clients alongside our existing European UCITs and Cayman fund platforms.”
Smith said the firm already had a strong pipeline of interest for the SMA platform solution given adviser demand for simple, low-cost alternatives to traditional platforms.
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