Michelle Weber

Macquarie’s Banking and Financial Services group today announced its separately managed accounts (SMAs) on the Macquarie Wrap platform has passed $10 billion in funds under management (FUM).

SMAs on the Macquarie Wrap platform have experienced significant growth over recent years, with an increase from $5 billion in February 2021 to $10 billion in February 2023, doubling the size of the platform’s SMA FUM.

Michelle Weber, Head of Wealth Product and Technology for Macquarie’s Banking and Financial Services group, said an increasing proportion of flows into the Macquarie Wrap platform are being directed into SMAs as advisers leverage the value these products provide to their clients and their business.

“As a flexible investment option, managed accounts provide advisers with increased efficiencies and transparent portfolios for their clients which is contributing to their ongoing popularity,” Ms Weber said.

“The structure of SMAs means that advisers and clients have increased visibility over the portfolio. By being able to view the underlying securities and account activity, advisers and clients can remain close to the investment decisions being made,” she said.

“We’ve seen increasing popularity in our fee efficient total portfolio offering, Consolidator II Engage which has contributed over $1 billion in growth since November 2019. SMA’s through Engage provide our clients with access to a menu of SMA’s, cash, term deposits and insurance^[1], offering simplicity and transparency,” Ms Weber added.

There are more than 370 SMA models across 62 investment managers on the Macquarie Wrap platform, meaning advisers can complement their own service proposition with the expertise of other investment managers.

Ms Weber said Macquarie have a deep history in the managed accounts industry and are well placed to ensure our offering meets the needs of advisers and clients alike.

“We’re committed to our continued expansion of the Macquarie Wrap managed accounts offering and focusing on providing advisers and clients with choice and access to the latest products,” she said.

Macquarie recently added the new suite of Morningstar Medalist core portfolios to the Macquarie Wrap menu, becoming one of the first platforms in the Australian market to offer these portfolios. The portfolios bring together Morningstar’s global independent research capabilities with its asset allocation and portfolio construction expertise to deliver holistic investment solutions.

Macquarie’s SMA offering is supported by a suite of more than 800 managed funds.

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[1] Insurance is only available for clients in Macquarie Super Consolidator II – Engage and Macquarie Pension Consolidator II – Engage.

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