ANZ Wealth has launched separately managed accounts as part of its Grow Wrap investment platform in an effort to give investors greater flexibility.
In a statement yesterday, ANZ Wealth announced it will introduce 13 new separately managed accounts (SMAs) to professionally managed portfolios of direct equities and exchange traded funds.
ANZ Wealth head of wrap Dean Faglioni said the new SMAs have been introduced in response to feedback from investors for greater flexibility to succeed in changing markets.
For advisers the SMAs will mean less time spent on administration and more time managing their client's overall investment strategies, Mr Faglioni said.
“The SMAs will offer investors the benefits of investing in traditional managed funds, including professional investment management, but with greater transparency and tax advantages.
“This can reduce the complexities associated with direct share investment selection, trading and administration.
ANZ launched the Grow Wrap platform, a super, pension and investment wrap platform, in partnership with Macquarie Group back in May 2016.
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