ANZ Wealth has announced the addition of separately managed accounts to its Grow Wrap platform.
Thirteen new separately managed accounts (SMAs) will be added to professionally managed portfolios of direct equities and exchange traded funds.
ANZ Wealth head of wrap Dean Faglioni says the new SMAs have been introduced in response to investor demand for “greater flexibility to succeed in changing markets”.
For advisers, the SMAs will mean less time spent on administration and more time managing their clients’ overall investment strategies, Mr Faglioni said.
“The SMAs will offer investors the benefits of investing in traditional managed funds, including professional investment management, but with greater transparency and tax advantages.
“This can reduce the complexities associated with direct share investment selection, trading and administration.
ANZ launched Grow Wrap – a superannuation, pension and investment wrap platform – in partnership with Macquarie Group in May 2016.
Magellan chairman and CIO Hamish Douglass has said he’s not afraid of missing out on a “short-term market rally” and that mutant virus...