Perpetual has announced a boost to funds under management (FUM) on the back of strong market performance and a flattening in outflows.
The manager will be offering a separately managed account (SMA) for the first time, through independent platform operator OneVue.
The group also announced its diversified income fund has been added to the approved product list (APL) of CBA-owned Count Financial, and its Share-Plus Long Short Fund has been added to the APL of IOOF dealer group Bridges Financial Services.
In total, the group experienced a jump in FUM of almost $2 billion in the March quarter, up to $26 billion.
In total, the group experienced net outflows of $0.1 billion, with $0.7 billion leaving through retail channels, and institutional channels bringing in $0.6 billion – a significant improvement on the $0.8 billion of net outflows in the same period in the previous year.
The increase in FUM was due to market appreciation, following a surge in Australian equities in 2013.
Commenting on the group’s move into the SMA space, OneVue chief executive of strategic relationships Brett Marsh said the offering will allow Perpetual’s investors to customise their investments to their desired risks or objectives.
“The new Perpetual SMA will offer advisers a complementary solution to other investment managers and increased choice,” Mr Marsh said.
“SMA leverages Perpetual’s capability in managing Australian equity portfolios and is not a replication of their other funds.”
According to Steven Gresham, executive vice president of Phoenix Investment Partners Limited, the choice of Perpetual to launch this vehicle is a trend that is likely to continue.
“The managed account industry is on a roll, driven by powerful baby boomer demographics and the boomers [are needing] more customised, tax-sensitive, transparent investment solutions.”
