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CFS rolls out new SMA product

Colonial First State (CFS), in conjunction with Commonwealth Private, has launched a separately managed account (SMA) product, “freeing up” advisers to spend more time servicing clients.

According to CFS, the SMA offers the choice of 11 separately managed portfolios, which cover a range of risk tolerances and offer managed ASX-listed securities and cash.

Speaking to ifa, CFS general manager for custom solutions Chris Stevens said the SMA has been designed to meet the needs of a number of different stakeholders.

“It leverages the technology that we have here for model portfolios, and it really looks to efficiently manage client portfolios in terms of construction of those assets, together with implementation of investment recommendation,” he said.

“There will be some SMA portfolios that will have a higher allocation to growth assets and others will have a higher allocation to defensive-style assets, like fixed interest securities instead of equities,” he added.

Some of the key features of the Commonwealth Private SMA include “centralised management, comprehensive reporting and competitive fees structure, including fee aggregation across multiple accounts and products”, CFS said in a statement.

“By investing in the CPSMA, investors authorise trading to be done on their behalf by the portfolio manager, reducing the amount of paperwork required for changes to the portfolio and ultimately saving them time,” CFS added.


Mr Stevens said advisers will also spend less time “inputting data and detail” into trading software or filling out processing forms, allowing them to spend more time on “high value activities”.