The Henderson Maxwell Managed Account Service allows you to establish a Managed Account, which can consist of one or more Investment Options or Portfolios. Each Portfolio consists of investments managed by Henderson Maxwell Pty Ltd (Henderson Maxwell) in accordance with the objectives of the Investment Option(s) you select. The service enables you to delegate the day-to-day investment decisions of your Managed Account to Henderson Maxwell, view the investments and transactions including any investment changes in your Portfolio(s) and retain beneficial ownership of those investments.
You have the choice of four Investment Options:
Your Managed Account is managed in accordance with the investment recommendations of the Investment Manager. The Investment Manager determines the specific investments to be made for each Portfolio, the target weighting of those investments, changes to those investments and responses to corporate actions arising from the investments, based on the investment objectives and investment approach outlined in the Investment Option document.
Henderson Maxwell is the Investment Manager of the Portfolios. Henderson Maxwell will actively manage the Australian share portion of your Portfolio and may also select specialist investment managers to manage particular asset classes within the Portfolios. Investment Administration Services Pty Limited (IAS), a company which specialises in investment administration, is the operator and administrator of the Managed Account.
IAS is responsible for:
IAS has appointed HSBC Bank Australia Limited (HSBC) as sub-custodian for your Managed Account. HSBC will hold the investments and cash on your behalf, with beneficial ownership being retained by you. The legal owner of the assets and cash will be HSBC Custody Nominees (Australia) Limited. The sub-custodian has no independent discretion with respect to the investments.
Following feedback from clients, Henderson Maxwell has found traditional managed funds have several shortcomings including: higher fees, unit pricing issues through platforms, slow transaction processing, buy/sell costs, slow distribution of income, inappropriate distribution of capital gains tax, poor management of corporate actions, and a lack of control for clients, as all the assets in the fund are held by the unit trust and not the client.Henderson Maxwell believes that Managed Accounts offer an ideal solution to managing your investments in an effective and cost-efficient manner, offering clients the following benefits: