SMI director and portfolio manager Darren Harvey said the decision to rebrand reflects the fact that over 60 per cent of the money flowing into the company’s funds has been wholesale.
Mr Harvey said the Smarter Money Active Cash Fund was first launched in February and has approximately $155 million under management.
The company has already begun to see flows from the ASX mFund, he said.
“We have been pleasantly surprised by the amount of support expressed for mFund in the financial adviser community,” Mr Harvey said.
These two recent announcements follow the launch of SMI’s second fixed income fund, the Smarter Money Higher Income Fund, back in August.
Mr Harvey said the launch of the new fund came on the back of client demand and will trade under the ASX mFund code SMF0.
“An existing institutional investor in the Smarter Money Active Cash Fund recently asked the SMI team whether we could create a new option that focused more on Australian floating-rate notes with consequently lower allocations to cash,” he added.
