Fortnum e-Clipse transitions to HUB24

Independently-owned licensee, Fortnum Financial Group's e-Clipse Super Fund has partially transitioned $190 million in assets to HUB24 Super Fund.

The assets were on behalf of over 900 member accounts, following the transition of the e-Clipse Managed Discretionary Account (MDA) services in March where HUB24 was appointed administrator and custodian.

The majority of the members were in the fund and the remaining were UK pension benefit holders, and were planned to be transitioned to the wealth management platform provider in due course.

HUB24 managing director, Andrew Alcock, said the transition and launch of the Fortnum products was completed in a relatively short time.

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"There's a growing appetite from independently-minded groups like Fortnum who value HUB24's superior reporting and transaction solutions with best practice managed portfolio/SMA [separately managed account] implementation," he said.

"Our team is focussed on helping licensees and advisers adopt a comprehensive best interests platform solution with market leading portfolio management functionality at its core."

e-Clipse Invest and e-Clipse Super services provide a full range of managed and direct investments.

In addition, a suite of customised managed portfolios offered by Innova Asset Management has been created.