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Expand your clients’ investment horizons

Separately Managed Accounts (SMAs) offer the opportunity to directly invest in equities and other listed securities while enjoying the benefits of a managed fund.

SMAs offer a ‘best of both worlds’ approach for you and your clients, combining the flexibility and transparency of direct investing with the convenience and expertise of a managed fund. Day-to-day investment decisions are delegated to a professional investment manager, thereby decreasing your administrative and compliance burden. 


SMA vs managed funds and listed securities

  SMAs Managed funds Listed securities
Professional management Yes Yes
-
Multi-manager Yes Yes
-
Accessible via wrap platforms
Yes Yes
Yes
Management fees 
Yes, usually lower Yes
No, just brokerage
Pooled investments/unitised 
Yes Yes
No
Unit prices 
No
Yes
No
Individual investor accounts
Yes
No Yes
Individual cost base for calculation of CGT 
Yes
No
Yes
Dividends flow directly to investor 
Yes
No
Yes
Full transparency of investments 
Yes
No
Yes
Investor has beneficial ownership of assets 
Yes
No
Yes
In-specie transfers into and out of SMA
Yes
No
Yes
Investor able to decide on corporate actions
No
No
Yes
Compliance requirements (SoA/RoA)
Yes
Yes
Yes