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Fidelity International launches SMA portfolio

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MEDIA RELEASE: Fidelity International has launched its first Separately Managed Account (SMA), in partnership with Praemium, one of Australia’s largest providers of SMAs.

The mandate is an actively-managed Australian equity model managed by Kate Howitt. Fidelity has been working with Praemium and a mutual long-term client for some time to bring the right SMA solution to the Australian market.

Damian Cilmi, Praemium’s head of investment managers & governance, said: “Praemium is committed to providing its clients with access to high-quality managers and investment options. As one of the largest, most experienced global asset managers, Fidelity International recognises the importance of offering managed account solutions to meet the diversified and growing needs of investors and we are delighted to be their platform of choice for their first SMA.”

Simon Glazier, head of wholesale sales at Fidelity, said: “The SMA structure makes sense for the right client because investors own the shares they’re invested in which can offer tax benefits but don’t have administrative burden of investing directly in the stock market. At the same time, they’re benefiting from the expertise and research resources of a professional manager.”

The launch is Fidelity’s first foray into the Australian SMA market and opens up a new channel for investors to access Fidelity’s extensive global research capability.

“Fidelity is uniquely positioned to offer a broad set of services across asset management thanks to the breadth of our business and global footprint,​” said Fidelity Australia’s managing director, Alva Devoy.

“By offering these new capabilities, we can develop stronger, deeper relationships with our clients.”

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