Customising Separately Managed Accounts (SMA)

You can set asset and GICS (Global Industry Classification Standard^®) sector exclusions within an Separately Managed Account (SMA) to prevent the purchase of a particular asset and to sell down any existing holdings in them.

You can customise listed securities, managed investments and GICS sectors that are available for investment through an SMA account. Please note customisations apply differently for GICS sectors and assets:

• Sector – this customisation is applied to an industry sector (via a Global Industry Classification Standard^® (GICS) and only applies to direct listed equity holdings.
• Security – this customisation is applied to listed equities, managed investments and ETFs within the SMA account. It does not apply to holdings within managed investments held within the SMA.

You can customise your client’s SMA to tailor their investments to their personal preferences. SMA customisations are particularly useful for charities, endowments, individuals and directors who may:

• have a strong preference to avoid investments in securities or sectors that are not aligned with the values of an organisation or individual e.g. avoidance of gaming, alcohol and tobacco industries
• be unable to hold a specific security due to a directorship or board position
• want to better coordinate their SMAs with existing investments.

SMA customisation is available across IDPS, Super and Pension accounts. Please note Accumulator accounts can’t hold SMAs. Customisations are set per Wrap account and apply to all SMAs held by the client within the same Wrap account.

You can change your client’s SMAs customisations in Adviser Online by following the instructions below: 

1. Log in to Adviser Online
2. Under the Clients tab in the side navigation, select Accounts and search for your client’s account
3. Select Account details
4. Under the Features section, expand the SMA customisations accordion and click on the Add SMA customisations/Update SMA customisations button. This will launch the SMA customisations wizard.
5. To apply new SMA customisations, enter the asset/GICS sector code or name in the search field and select the asset/GICS sector in the drop-down you want to exclude from the client’s SMAs. The selected asset/GICS sector will be added to the customisations table.
6. To remove an SMA customisation, select the ‘bin’ icon next to the SMA customisation you wish to remove
7. Select Confirm to review the SMA customisation updates and disclaimers.
8. Select Submit.

SMA customisations can be set on the account any time and are applied to all new and existing SMAs purchased for your client’s Macquarie Wrap account. This means you won’t need to re-apply the SMA customisation for each individual SMA within the same Macquarie Wrap account.

SMA customisations are implemented one business day after submission and will remain in place until removed. The selected assets and GICS sectors will be excluded from SMA accounts and any existing holdings in your client’s SMA accounts will be fully sold down and won’t be bought back in any future rebalance.

You can apply multiple customisations to your client’s SMA accounts at the same time. 

SMA customisations will take up to one business day after submission to apply and will remain in place until removed.

You can view your client’s SMA customisations in Adviser Online by following the instructions below: 

1. Log in to Adviser Online
2. Click Clients on the menu under the Macquarie icon and select your client’s Wrap account 
3. Select Account details and SMA customisation is located under Features.

You can remove the restriction by clicking the minus button on the Enter or maintain SMA customisation page.

You can review when SMA customisations were applied and removed from your client’s account in Adviser Online:

1.  Log in to Adviser Online
2. Under the Clients tab in the side navigation, select Accounts and search for your client’s account
3. Select Account details and expand the SMA customisations accordion located under Features
4. Select View history. Please note, you won’t be able to see the view history button if the account has never applied any SMA customisation.

SMA customisations need to be set at the wrap account level as no bulk functionality exists currently. 

The security may not appear in the security level drop-down list if it's yet to IPO (float) or undergoing a corporate action, given the security needs to be set-up in our systems to appear. For a list of all upcoming IPOs, you may refer to the ASX website, while all upcoming and ongoing corporate actions can be viewed via the Corporate Actions Calendar on Wrap Online. To access from Adviser Online: 

1. Click on Go to Wrap online and select Macquarie Wrap 
2. Select Transacting then Corporate Actions 
3. Click Corporate Actions Calendar.

If you have any further questions, please contact us via live chat in Adviser Online.

Customisations can only be set for:

• Managed investments 
• ASX listed securities and ETFs
• GICS sectors.