ANZ Wealth has launched a range of model portfolios to its aligned financial planning network, as it edges closer to unveiling its new-look multi-manager platform, OptiMix.
The model portfolios, which were rolled out to RI Advice, Millennium 3 and Financial Services Partners this month, are the first initiative of the bank’s recently created chief investment office. The portfolios will be released to ANZ Financial Planning in November.
ANZ Wealth global head of investment product and research, William Burkitt, said the group was still a few months away from finalising OptiMix’s improved manager line-up, with former head of private wealth investment research at Perpetual, Nigel Douglas, joining the chief investment office earlier this month to help drive the process.
Douglas has been appointed mandate research senior manager, responsible for manager selection and due diligence for OptiMix and ANZ’s broader investment and superannuation business, OnePath.
“There won’t be seismic shifts [to OptiMix]. It will still be actively managed and risk profile-based, not lifecycle based, but we’re making enhancements to all aspects,” Burkitt said.
“We’re also enhancing our service to advisers to ensure an even more competitive and attractive offer.”
Following the end of ANZ’s relationship with ING, the bank centralised the investment and multi-manager functions for its ANZ Wealth and OnePath businesses in Australia, New Zealand and Asia into the chief investment office under global chief investment officer Stewart Brentnall.
ANZ acquired OptiMix from UBS Global Asset Management in February 2012. The platform, which has approximately $10 billion in funds under advice primarily sourced from ANZ-aligned advisers, was originally sold to UBS as part of the investment bank’s acquisition of ING Investment Management.
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