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Investec targets instos; SMSFs too hard
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Investec Asset Management is looking to take advantage of what it sees as an opportunity in emerging market debt to acquire new investments from Australian institutional investors, but the sheer number of self-managed super funds (SMSFs) makes them too tricky to target.
Investec Asset Management managing director Mark Samuelson said that as the manager looked to expand into Australia it had the big industry funds on the radar, as well as Government funds and corporates.
SMSFs present an attractive market, but their proliferation makes them difficult to target at this stage, he added.
“There’s just literally too many of them at the moment,” Samuelson says. “People are still exercising their minds as to how exactly you go there because it’s much more akin to a retail type of market.”
The fact that the SMSF market is dominated by a sizeable consultancy also made it attractive, Samuelson said.
He added that Investec had a range of products suitable for the SMSF market, where the manager was beginning to gain broad traction.
AUTHOR
Mike Taylor
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