Under the move, ANZ Wealth will introduce 13 new Separately Managed Accounts (SMAs) to professionally managed portfolios of direct equities and exchange traded funds

Commenting on the introduction of SMAs, ANZ Wealth Head of Wrap Dean Faglioni said: “This latest enhancement to our wrap platform responds to investor and adviser feedback on the need for greater flexibility to succeed in changing markets

“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

“For advisers, the availability of SMAs means less time spent on administration and more time managing their clients’ overall investment strategies,” Mr Faglioni said.

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