PPM adds SMAs to Powerwrap

PPM's long-standing relationships with advisers on Powerwrap was a catalyst underpinning the announcement.


By Megan Tran

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Private Portfolio Managers (PPM) has made its separately managed accounts (SMA) available through Powerwrap in an effort to satisfy growing adviser demand for an SMA manager with a history of delivering client focused portfolios across global and Australian equities.

Speaking to financialobserver, PPM chairman Hugh MacNally said the boutique investment manager’s long-standing relationships with a number of advisers who used Powerwrap made it an easy decision to use the platform to launch the first in a series of SMA strategies.

MacNally said the group also chose Powerwrap for its broad approved product list, which would suit a large range of independent advice and accountancy firms that had an appetite for the group’s SMAs.

“Powerwrap recently completed a $19 million [capital] raise, which gave us comfort they were financially sound and investing back into the technology, including a digital wealth management interface,” he said.

He said the company had initially made its Australian equities individually managed account (IMA) available on Powerwrap’s super and non-super platforms, and would launch global equities through an SMA model within the next three months.

“These SMAs will draw upon our 10-year track record gained in our IMA global portfolios. Indications are already there that adviser demand is strong,” he said.

Powerwrap head of distribution Richard Carr said the platform provider was pleased to have been selected by PPM for the launch of its SMAs.

“The addition of PPM to our Smartwrap offering is in line with our focus on delivering one of the widest range of investment choices to our clients. We are confident advisers will welcome the addition of the PPM SMAs,” Carr said.

MacNally said the decision allowed PPM to extend the options available for financial advisers and investors to access the group’s investment strategies.

“PPM has a proven capability in building and managing concentrated share portfolios in an IMA structure generating superior long-term, tax effective returns,” he said.

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