Northplan launches its own asset management service
Financial planning firm Northplan has developed its own wrap service for dealing with fixed interest and property investments.
Tuesday, December 6th 2005, 6:39AM
The service, Star Invest, is the first investment of its kind which uses technology to increase transparency and eliminate fees and paperwork, Northplan managing director Kelvin Syms says.
Under the system clients fixed interest investments are aggregated then sent off as one lump sum investment to the relevant fixed interest manager.
Syms says the system reduces administration work for the managers and money is sent to them twice a month.
Star Invest covers all fixed interest investments including managed funds and finance companies.
Northplan was one of the original groups involved in the development of the Aegis wrap service, and still uses it.
However Syms says Star Invest is a step away from what Aegis offers. “We’ve taken half a step away from the Aegis custodial system,” he says.
Syms says Star Invest is not a managed fund itself, but a service. Besides fixed interest it also covers property funds.
Northplan does its own research on the companies within the portfolio – including Bridgecorp, Property Finance and St Laurence. It uses Australian-based Property Investment Research as a major provider of investment research on managed property funds and markets.
Star Invest also makes more information available to investors, he says, because they can access the critical data online at any time of the day or night – without having to go through a broker, Syms says.
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