WEEKLY WRAP: PEOPLE PRODUCTS AND COMPANIES: Hillross experts pass $1bn in FUM

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Hillross Experts’ Choice attracts over $1bn in FUM

Hillross Financial Services (Hillross) has attracted over $1 billion in funds under management (FUM) to its Experts’ Choice Funds range reflecting strong adviser interest and ongoing outperformance across the range of funds.

Experts’ Choice is a range of wholesale managed funds employing a multi-manager approach to investment management.

Hillross Managing Director Hugh Humphrey said the $1 billion milestone was a great result in a tough market.

“It’s a significant achievement to reach $1 billion in FUM for the Experts’ Choice Funds range which has proven to be a very attractive investment option for advisers to offer their clients,” Mr Humphrey said.

“The Experts’ Choice Funds have grown from $500 million at the end of 2008 to more than double its size over a challenging period that included the global financial crisis and continued volatility in investment markets.

Great news on developing a home loan product

After YBR’s Mark Bouris’ presentation at the McLaren Vale Conference Dinner last October, members unanimously voted in favour of an approach to YBR to joint venture a Home Loan product under the Personal Choice Home Loan brand.

Personal Choice Management director Peter Johnston is pleased to say that Mark Bouris has agreed in principle to the arrangements and they are in the process of working through the details. The following is a brief of what has been discussed:-

  • A stand-alone product which will be ‘fenced off’ from any cross selling by YBR/Macquarie.
  • Members will receive the market rate of trail/upfront fees to advise on the product. If members do not want to sell the product themselves it can be referred to a YBR person to do.[ fee splits and appropriate contractual ring fencing]
  • The manufacturing margins are shared with YBR. A portion of the margin will be retained for promotional purposes and the remainder distributed back on a quarterly basis via the PCM shareholding.
  • If the book of business is ever sold members will have a say in the outcome and share in the equity.
  • For those who attended Mark’s presentation it was mentioned that YBR’s affiliation with Channel 9 provides a substantial advertising credit to spend on promotion. Some of this credit may be used to promote the product.

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