Melbourne-based dealer group Finovia has hired Select Asset Management to manage three of its recently-launched investment portfolios.
Select will manage the Finovia Defensive Portfolio, Finovia Balanced Portfolio and Finovia Growth Portfolio.
Each portfolio invests in a selection of managers that invest in traditional and alternative asset classes.
The portfolios are available on the Asgard platform as well as Finovia eWrap and Finovia Essential eWrap.
The deal between Finovia and Select follows the recent decision by Select to revamp its operations and focus on providing design construction and management advice to the portfolios of dealer groups and advisers.
"Select's strategy is to provide our portfolio manufacturing expertise to a small number of high-quality dealer groups by allowing those dealers to create a series of portfolios under their own brands," Select chief executive Andrew Fairweather said.
