Separately Managed Accounts

Infinitas is the investment manager for a suite of four SMA portfolios:

These cater to:

  • Investors advised by other advisors
  • Direct advisory clients with $1m or more to invest.

Applications for investment can only be made on the application form contained in the relevant Product Disclosure Statement and after consultation with an advisor.  The Infinitas SMAs are also available on Macquarie Wrap, SmartWrap & Emerald Wrap platforms, which investors can access through their financial advisor.

We also offer Individually Managed Portfolios for investors with over $5m of investments.


Q. What is a separately managed account (SMA)?

An SMA is a portfolio of assets in which the investor has beneficial ownership of the underlying securities. They are professionally constructed and managed by a portfolio manager who has full discretion over the investment decisions.

SMAs have certain advantages over traditionally managed funds, including greater transparency and tax efficiency*, as well as the ability to forecast and draw down dividend payments from the constituent stocks.

*In contrast to managed funds, the tax incurred in separately managed accounts (SMAs) is passed directly to the investor in the underlying securities with no pooling, no embedded capital gain or other unintended tax consequences as a result of prior trade and ownership activity of the portfolio.

Q. What are benefits of an SMA over a managed fund or a direct investment?

With an SMA, you own the underlying securities which means you can view and manage the securities and their performance in real time through a single online account.

Other benefits include:

  • Capital gain tax advantages: you do not inherit embedded capital gains and are not subject to the redemption activity of other investors
  • Portable shares: Investors can transfer existing shares “in-specie” without triggering a taxable event
  • Forecast and draw down dividend payments from the constituent stocks

Q. What are the benefits of an SMA over direct investment

The benefits of an SMA over direct investment include:

  • Wholesale brokerage rates which are generally lower than the rates paid by retail clients for self-directed investing
  • Access to institutional placements that are generally unavailable to retail clients

Q. What is the difference between an SMA & an IMA?

The key difference between an separately managed account (SMA) and an individually managed account (IMA) lies in their different approach to building an investment portfolio.

  • SMAs are constructed on a model portfolio basis, where each investor receives exactly the same portfolio based on a master portfolio assembled by the fund manager.
  • IMAs are constructed individually for each investor, although each account shares some common holdings.

Infinitas offers both IMAs and SMAs.

Q. Can I import my existing portfolio into a SMA?

You can import your existing portfolio into an SMA, however only those shares contained in the model portfolio will be retained and only to the proportion the transferred shares are held in the model portfolio.

Q. Why do I need a professionally managed SMA? Doesn’t my advisor do that?

Although your advisor may be more than equipped to manage your portfolio on a day-to-day basis, they don’t always have the time to dedicate to the in-depth research required to manage a portfolio.

With an SMA, a team of dedicated professional managers selected by your adviser manages your portfolio in detail.

See the performance of our Infinitas SMAs.

Q. How do boutique fund managers compare to major fund managers?

Boutique active investment managers have outperformed both non-boutique peers and indices over the last 20 years, according to research by AMG.

The study by AMG study incorporates data from over 1,200 investment management firms globally and nearly 5,000 institutional equity strategies comprising approximately $7 trillion in assets under management.  You can read more about this research in The Australian: How boutique fund managers beat big end of town.

Q. How does the performance of an Infinitas SMA compare to performance of SMAs from other top managers?

Q. Why choose an Infinitas SMA?

At Infinitas, we take a collaborative approach to investment decisions.

Our investment committee is a unified team, and our business is built around the outcomes of our discussions of the markets and specific investment ideas.  This open and collegiate environment makes the team as a whole more intuitive and able to anticipate changes in market trends well in advance of the news.

See the performance of the Infinitas SMAs.

Q. How do I apply?

The Infinitas SMAs are available on Macquarie Wrap, SmartWrap & Emerald Wrap platforms, which investors can access through their financial advisor or contact Infinitas directly.

Q. What is the minimum investment in an Infinitas SMA?

The minimum required investment in an Infinitas SMA made via your advisor on the Macquarie Wrap, SmartWrap & Emerald Wrap platforms is $50,000.

The minimum investment where Infinitas is acting as your financial advisor is $1m.

High Conviction AllCap Australian Shares SMA

A portfolio of Australian shares drawn from the ASX300 index, hybrid and interest rate securities or cash at time when as investment manager we consider it more prudent to invest in cash.

Socially Responsible SMA

A portfolio of Australian shares drawn from the ASX300 index and/or cash.

The shares are screened to exclude companies whose activities are assessed as being environmentally damaging, and to take into factor companies with demonstrated social responsibility.

Core Australian Shares SMA

A portfolio of shares drawn from the ASX200 index – representing the largest companies on the Australian share market – and some cash holding.

This portfolio aims to achieve returns that exceed the performance of the market’s index through careful stock selection.

Income SMA

A diversified portfolio of cash, fixed income, hybrid and interest rate securities, and property securities and high yielding Australian shares with a focus on achieving high levels of income.