AUSTRALIA - Aviva Australia has launched an integrated separately managed account for superannuation investors in a bid to take advantage of increasing interest in self-managed accounts.
The provider said it believed self-managed accounts provided a transparent, flexible, tax-efficient and low-cost investment vehicle for investors.
But it said, while many people understood the markets and are interested in investments, they lack the time to consider them.
Aviva distribution development manager Stuart Fechner said: "Our research with investors and financial advisers has shown us that the key requirements are transparency, access, flexibility and simplicity."
He added: "The global financial crisis has only confirmed and strengthened our plans to develop this simple, straight-forward investment option."
Aviva's integrated separately managed account (SMA) provides direct investment in the Australian share market via five fund managers.
The five managers, which will manage the models and provide broad options for investors, include Ausbil Dexia Limited, Aviva Investors, Goldman Sachs JBWere Asset Management, Perennial Investment Partners and UBS Global Asset Management.
Aviva says investors in its SMA are able to select from eight model portfolios to suit their objectives, which includes a blue chip 20 option.
It says its SMA also offers a lower cost than managed funds due to tax efficiencies.
Fechner explained that with a managed fund, investors' money is pooled together in the fund, meaning investors could have capital gains.
But he said investors in a SMA are treated as individual owners of the shares - a move which reduces tax liabilities.
The top stories this week were the High Court's decision to block the £12bn annuity transfer from Prudential to Rothesay Life, and a separate court ruling that 'raises the bar' for pension rectification exercises.
Guaranteed minimum pension (GMP) equalisation has soared to the top of pension schemes' to-do lists, with 58% stating it is a priority project, research from Equiniti has revealed.
Professional Pensions is holding its defined contribution (DC) conference on 4 September.