CFS welcomes income portfolio to managed accounts suite
The number of managed accounts featured on Colonial First State’s (CFS’) Edge platform has exceeded 170 with the addition of MST Financial’s Sandstone Income Portfolio.
The strategy is designed to provide investors with access to alternative credit-based assets amid the planned phase-out of traditional bank hybrids over the next seven years, as well as assist advisers with transitioning clients out of legacy holdings. The portfolio is also promoted as an attractive ‘entry point’ for novice income investors.
Leveraging the extensive experience of MST Financial and its ‘active oversight’, the portfolio will offer investors replacements for their bank hybrids at an “equivalent or increased level of credit quality and liquidity” – including bank subordinated debt and selective investment grade rated corporate notes – to ensure their risk exposure remains stable.
“The Sandstone Income Portfolio is designed to provide a timely and strategic income solution for advisers and clients navigating the evolving fixed income landscape, particularly as the phase-out of traditional hybrid securities reshapes income investing in Australia,” Frances Taylor, Executive Director of Managed Accounts at CFS, said.
“The team at MST Financial are well known as specialists in this space and we are delighted to be working with them.
“The Sandstone Income Portfolio is built with one objective, to help advisers and their clients manage the hybrid phase-out with confidence.”
“Having industry veterans like Cameron Duncan and Steve Anagnos leading our income team provides us with the ability to leverage their deep experience to be able to construct a portfolio that is appropriate and ideally suited to investors seeking stable income with a high degree of capital preservation.”
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