Powerwrap, Macquarie add new offerings


By Elizabeth Somerville

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Independent investment manager Cameron Harrison plans to boost its retail presence following the addition of the group’s Anglo-Atlantic Equity Model to the Powerwrap platform this month.

“We want to approach the external market and have started with SMAs (separately managed accounts),” Cameron Harrison partner Paul Ashworth told financialobserver.

“We think philosophically [the SMA sector is] a very good process as it’s transparent and investors see how their manager is actually managing.

“We’ve started that strategy with Powerwrap and are looking to expand over the next six to eight months with other providers.”

Although the asset manager was not well known outside its Melbourne base, the new ability of SMA providers to offer international equity products was expected to change this, Ashworth said.

“The constraint with the SMA providers hasn’t been us, it has been their ability to run international equities,” he said.

“[However], they are all starting to get to that point.

“To a certain extent we’ve been sitting there just behind the start line waiting for them to get their technical capabilities [up].”

The model, which had been running since 2007, used quantitative and qualitative assessment frameworks in its investment process to select the best-managed businesses listed on either the FTSE All-Share or the S&P 1500 Composite Index, Ashworth said.

“It’s our fundamental core difference being able to have a business success framework to look at a whole multitude of companies and make decisions on a very repeatable basis,” he said.

“Through that business success framework we get a very systemised approach to be able to qualitatively assess businesses.

“We can’t get a truly unbiased decision in our investment process, but formulating over the last 15 years this business success and scoring system goes a long way to removing a lot of bias in decision-making.”

Earlier this week Cromwell announced its Phoenix Core Listed Property Fund would also have wider reach after its inclusion on Macquarie Wrap platforms at the start of this month.

“The fund is proving extremely popular with investors, and is now the only way for investors to get access to the highly successful, award-winning investment management team at Phoenix Portfolios’ listed property expertise,” Cromwell Funds Management director Michael Blake said.

“Phoenix has been one of the star performers in the Australian listed property funds management industry over recent years, and the response to the fund since it was launched in March reflects their reputation.”

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