Separately managed accounts (SMAs) on the Macquarie Wrap platform have surpassed $2 billion in funds under administration, according to Macquarie Wealth Management’s Head of Wealth Product, Cameron Garrett.

Garrett said the rapid increase in SMA funds under administration, which has doubled over the past year, demonstrated the continued growth in popularity of SMAs.

“We’re continuing to invest in our wrap platform and are ensuring that we have a diverse range of investment options and products for advisers and their clients. This, combined with Macquarie Wrap’s technology, scale and security, means we are at the forefront of the platform market,” Garrett said.

“The structure of SMAs means that advisers and clients have greater transparency and control when managing their portfolios. SMAs also provide significant efficiency and functionality gains for advisers, enabling them to have more high value conversations with their clients.”

Garrett added: “We’re seeing that a larger proportion of flows into the Macquarie Wrap platform are being directed into SMAs, as advisers increasingly appreciate the value these products provide to clients.”

Macquarie has over 35 SMA investment managers across more than 150 SMA models, complementing a suite of more than 850 managed funds.