A new platform has launched - called OpenInvest - designed to give self managed superannuation trustees and other retail investors direct access to a range of fund managers and their expertise.
Foundation partner managers include Schroders, Shaw and Partners, SG Hiscock, JBWere, InvestSense (in collaboration with Magellan and Pimco) and Clime Investment Management. OpenInvest expects other managers to follow next year.
OpenInvest will act as the administrator of the portfolio and undertake transactions on the investor's behalf. It will also handle reporting and record keeping.
“OpenInvest enables investors to get to know and understand the different investment managers on the platform, enabling them to compare information then choose their preferred manager only when they feel ready - when they believe they have sufficient knowledge and trust in that manager," co-founder and CEO of OpenInvest, Andrew Varlamos, says.
Managers on the platform will will provide content, information and regular updates on a variety of current investment and market issues.