Macquarie Wrap hits $300m in SMA FUA
Macquarie has announced its funds under administration have reached more than $300 million for its separately managed accounts (SMAs) on Macquarie Wrap.
In a statement, the company also announced that BlackRock and Elston SMA models are now available on the platform. The five BlackRock portfolios are constructed using iShares ETFs, while Elston has two multi-asset class SMA models across both super and non-super variants.
Macquarie's head of wealth product Cameron Garrett said the increase in FUA is evidence of "strong" investor interest in the platform.
"Since launching SMAs on the market leading platform1 in September 2014, we've seen strong interest from investors due to their ability to access a wide selection of assets, while taking the complexity out of managing an investment portfolio," Mr Garrett said.
"We are continually investing in and strengthening our proposition to ensure we remain at the forefront of the market, including with SMAs, and this approach has led to Macquarie Wrap being recognised as one of the most highly regarded platforms in the industry."
Mr Garrett added that with the addition of BlackRock and Elston SMAs, the total number of Macquarie Wrap SMA model portfolios is now 48.
"Our suite of external managers is now bigger than ever, giving clients even greater choice when selecting models to invest in that best suits their strategy and goals," Mr Garrett said.
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