IMAP has announced it will be organising the inaugural IMAP Managed Accounts Awards in August 2018, to coincide with the 2018 IMAP Portfolio Management Conference on 2 August 2018 in Sydney.
The awards will cover both single sector asset classes and multi-asset class programs, which generally have a range of risk profiles or other goal-based objectives.
In addition, there will be awards specifically for managed account programs offered by advisory firms that are integrated into the advice process.
The categories that recognise individual AFSL or practice managed account programs will cover both those that are fully managed internally, as well as those where portfolio management or investment management is outsourced.
Both SMA and MDA programs, along with the other legal structures used by managed account providers, will be included in the awards.
“Managed accounts are becoming a significant part of the advice profession, with many managers now offering portfolios. The managed account programs that are offered by advice firms are also an important development that we want to recognise,” said IMAP chair, Toby Potter.
“We want the IMAP Managed Account Awards to be a recognition of excellent practice among advice firms. The managed account programs they offer are operated largely out of sight and the best are well resourced, carefully thought through, have a clear investment philosophy with decent track records, and deserve to be recognised.”
To adjudicate the awards, IMAP has convened a panel of independent researchers, each of whom consults to advice firm investment committees.
Financial Express will provide the data analysis capability that will underpin the quantitative aspect of the awards.
“Managed account programs can be more complex to evaluate than funds,” Potter said. “This is partly because of the variety of legal structures that are used but also because they are intrinsically linked to the advice process. This means that while some managed accounts are developed solely from a single sector investment perspective, many are multi-asset class, with a range of underlying managers and complex objectives that reflect a particular advice firm’s investment philosophy.
“That’s why it’s important to recognise advice firms that are doing a good job. At IMAP, we believe we can help broaden the understanding of what industry best practice looks like.”