Colonial First State has announced it will officially rebrand its Avanteos platform as FirstWrap on 8 June.
"We're going to continue to invest and expand the value proposition of the platform, looking at closer integration of SMAs [separately managed accounts] and IMAs [individually managed accounts] and will also aim to accommodate a broader range of adviser needs through offering simple to more complex products," Colonial First State general manager of distribution Paul Barrett said.
"We're also currently launching a new suite of products under the Real Index, which is accessible through Avanteos as well as our existing platform FirstChoice.
"It is not a normal index fund but a fundamental index fund - and fundamental indexing reverses out the bias in traditional index funds that are cap weighted and potentially overweight overpriced stocks and underweight undervalued stocks."
FirstWrap will give advisers and investors flexibility, control and comprehensive investment choice, with access to more than 250 managed funds plus ASX-listed securities, fixed interest and other unlisted investments.
It will also provide web-based portfolio management tools to enable advisers to take advantage of investment opportunities quickly and easily for their clients.
The launch of FirstWrap will complement the group's existing FirstChoice platform, while FirstWrap will offer an alternative for those looking for a more tailored solution such as direct shares and other diverse asset classes and more complex tax management needs, Barrett said.
The Avanteos platform recently recorded a 5 per cent increase in its funds under administration for the quarter ended 31 March 2009, which Barrett attributed in part to competitive fees and quality service.
The overall Avanteos business, which includes other services, will also undergo a rebrand and will be known as Colonial First State Custom Solutions.
