Boutique financial planning group Risk and Investment Advisors Australia (RIAA) has picked Select Asset Management as the manager and responsible entity for the newly created ARIA Portfolio Solutions of funds.
The ARIA Portfolio Solutions include a conservative, balanced and group option and aim to provide investors with actively managed, multi-manager and diversified portfolios using Select's expertise.
Their objective is to achieve regular compounding rates of return above cash over the medium to long term, in addition to limiting major losses to capital in difficult market conditions.
"The ARIA Portfolio Solutions have evolved from RIAA's desire to offer the highest quality portfolio solutions to our clients that can perform well in a range of different market conditions - Select's more flexible mandate is better suited to our investment needs and our desired outcomes," RIAA managing director Grant Scalmer said.
Select chief executive Andrew Fairweather said the asset manager has seen continued interest in its portfolio solutions over the past 18 months.
"We are very pleased with securing our fourth customised portfolio service customer in what has been a very tough market for both dealers and advisers, and RIAA very much understand the benefits of having a fully implemented and unitised model portfolio capability that has none of the restrictions, conflicts or investment flaws of most model portfolios," he said.
The expected launch date of the ARIA Portfolio Solutions is November 2011.
