Fund Product, Company, and Regulatory Updates as at 16 August 2016

Product Updates

MLC adds 56 new investment options to MLC Wrap and Navigator
MLC's Wrap and Navigator platforms now have 56 new investment options on the menu. The following asset classes have additions:

  • International Equity - 19 new funds
  • Australian Equity - 15 new funds
  • Fixed Interest - 14 new funds
  • Property - 3 new funds
  • Growth - 2 new funds
  • Multi-asset - 2 new funds
  • Alternatives - 1 new fund

Macquarie Wrap adds new funds
Macquarie Wrap has added the Wingate Global Equity Fund - Wholesale Units. The fund was formerly known as the Wingate Opportunity Fund, and invests in leading global companies with a high-conviction approach. It has delivered a return of 12.71 per cent per annum over the five years to 30 June 2016. Additionally, five of Mercer's multi-manager funds have been added to the wrap platform:  Mercer Conservative Growth, Mercer Defensive, Mercer Select Growth, Mercer High Growth, Mercer Moderate Growth and Mercer Income Plus. 

HUB24 adds five Mercer funds
Further Mercer funds have been added to the HUB24 Invest platform, taking recent additions to 11. The additions to the Mercer Multi-Manager include Mercer Growth, Mercer Defensive, Mercer Income Plus, Mercer Select Growth, Mercer Australian Shares for Tax Exempt Investors, Mercer Australian Shares, Mercer Australian Shares Plus, Mercer Australian Small Companies, Mercer Global Listed Infrastructure, Mercer Global Small Companies and Mercer International Shares.

CFS adds global equity to FirstChoice platform
Colonial First State (CFS) has added a global equity element to its FirstChoice investment platform, with T. Rowe Price to manage it, using the same investment principles used for T. Rowe Price's Global Equity Fund (Hedged and Unhedged). 

Shaw and Partners and Praemium set up managed account solution
A managed account solution has been devised for clients of Shaw and Partners and Praemium whereby two investment model portfolios are contained under a separately managed account structure. One uses exclusively Australian equities, while the other lists ASX-listed debt and preference securities for the more conservative investor. 

AMP Capital launches new multi-asset fund on ASX
AMP Capital has launched the AMP Capital Dynamic Markets Fund (Hedge Fund) on the ASX via the BetaShares alliance. 

BetaShares launches ETFs
BetaShares has launched the BetaShares Global Gold Miners ETF - Currency Hedged (ASX: MNRS) and the BetaShares Global Banks ETF - Currency Hedged (ASX: BNKS). Both funds join the first of its kind to launch, the BetaShares Global Energy Companies ETF - Currency Hedged (ASX: FUEL), launched in July. 

Regulatory Updates
_____ warning
ASIC has warned consumers from clicking on web advertising for, a website offering binary options. The company does not have a licence to operate derivatives trading in Australia. ASIC believes the information on the site will mislead consumers. ASIC has taken action to restrain the website. 

Pacific Millennium International Investment Group AFSL cancelled
ASIC has cancelled the Australian financial services licence (AFSL) of Pacific Millennium International Investment Group Pty Ltd, a company providing general financial advice and dealing in securities. ASIC deemed it had breached its obligations by failing to maintain competence, comply with financial requirements, lodge financial reports, and advise ASIC of any breaches.