A prospectus is not created for a separate account. Managers list their basic fee structures in a regulatory filing called Form ADV Part 2. An investor can obtain this document by indiving himself to the manager, but they are usually not as prevalent by unlimited online downloads as investment fund prospectuses. In addition, the fee schedule published in ADV Part 2 is not necessarily defined – it is subject to negotiations between the investor (or the investor`s financial advisor) and the asset manager. Often, this is not an individual royalty, but a scale in which the royalty (expressed as a percentage of assets under management) decreases as the volume of assets (the amount invested) increases. SMAs are suitable investment products for clients who want a direct investment portfolio without having to spend time choosing, managing and monitoring their portfolios – since investment management and professional management are supported. International SMAS allows clients to directly access international actions without the complexity and cost of managing international trade, custody and currency. The term “SMA” is used primarily in the U.S. brokerage industry for these types of agreements, where a portfolio management resource account is managed within the entity or more often by an external fund management firm (investment advisory) with a director. In this context, an ADM can be considered as an investment vehicle similar to an investment fund, in which the client pays a fee to an asset manager for its services that manage the client`s investment.
The important difference is that an investment fund investor holds shares in a company that owns other investments itself, while an SMA investor directly owns the invested assets in his own name. SMAs must meet a number of requirements set out in Rule 3a-4 of the Investment Company Act 1940 to ensure that they are not considered unregistered investment companies.  Benefits Access to a wide range of professional managers and asset classes Tax optimization Personalized customization with a flexible platform Discover at any time the investments that make up your account Portability of underlying investments Institutional infrastructure for private investors Responsible Entity The Trust Company (RE Services) Limited, part of the Perpetual Group of Companies, is the lead agency for the program. The responsible body shall be responsible for the operation of the system and shall ensure that it is managed in accordance with the applicable legislation. The system administrator and mainstream fund services custodian Pty Ltd has been appointed system administrator and programme custodian, in agreement with the responsible authority. As the custodian bank of the scheme, the general public is responsible for holding the assets in the portfolios. As a Scheme administrator, Mainstream offers account management and management for investors in the scheme. This includes carrying out transactions such as buying and selling securities on your behalf for your selected model portfolio. Investment Manager For more information on our professionally managed model portfolios, see the product opening statement. If you are an investment manager interested in becoming one of our professional model managers, please contact us. Important information: This information is of a general nature and does not take into account a person`s personal financial situation. .