Individually Managed Accounts (IMAs) and Separately Managed Accounts (SMAs) both offer investors a highly transparent managed share portfolio while avoiding the tax distortions that come with pooled investment vehicles such as managed funds.However, there are some important differences between individually and separately managed accounts and while they may sound very similar, these differences can have a significant impact on investment performance, suitability, and tax effectiveness.In General, Separately Managed Accounts are a good alternative to managed funds for many investors, while investors with $1 million or more, are likely to find the features of an IMA more compelling.The key differences between the two types of managed accounts rests in their approach to building an investment portfolio.SMAs are constructed with a ‘model portfolio’ where each investor receives precisely the same portfolio, based on a template created by the fund manager. IMAs however, are constructed individually for each investor, although each account will share some common holdings. These two approaches have some important differences:Investors in a SMA may buy stocks that have already enjoyed most of their returns, but remain in the model portfolio to avoid realising capital gains tax. IMA investors however will receive a portfolio that is assembled incrementally, as attractive opportunities arise.For the same reason, new investors in Separately Managed Accounts will receive a larger position in stocks that have already performed well, while IMA investors are likely to receive larger holdings in stocks the investment manager believes will perform well in future.IMAs also provide the ability to tailor the portfolio to the investor’s circumstances. For instance, an IMA manager may place more weight on generating franked dividends for a SMSF, while long term capital appreciation could be more valuable for an investor with a high tax rate. These differences in investment management help produce good after tax results for each investor. Since every investor in a SMA receives the same portfolio, the Separately Managed Account manager cannot factor individual considerations into their management.Both structures will allow the transfer an existing portfolio, with the IMA providing some additional flexibility and tax advantages. When importing an existing portfolio into a SMA, only those shares contained in the model portfolio will be retained and only to the proportion held in the model portfolio. Therefore, investors may still realise capital gains when entering an SMA. Conversely, a diligent IMA manager will adapt the existing portfolio over time and with consideration to tax events.Both offer tax effective investment management to tax conscience investors.For investors wishing to exclude individual stocks or sectors, an Individually Managed Account manager will hold alternative positions, while the SMA will generally hold cash in lieu of the excluded positions. This can have a significant impact on the portfolio’s overall returns.In executing trades, SMA investors will generally receive ‘at market’ prices on their transactions, while an IMA manager may attempt to get best execution and/or exercise discretion over the timing of buys and sells.Service levels are also different, with holders of Separately Managed Accounts receiving a service akin to a managed fund. while those using Individually Managed Accounts have ongoing access to the fund manager responsible for their portfolio and will likely receive personalised reporting.
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What is digital marketing?
Promoting or marketing your product or services on the digital platforms, including the internet, mobile phones and display advertisements is collectively known as digital marketing. With the internet becoming an integral part of everyone’s life, the way of marketing products and services too has evolved and every brand and business is using technology to reach out to the maximum number of people. It is being used to entice potential buyers and inform the existing customer base of new arrivals.Why choose digital marketing over traditional marketing?
Following are the reasons that show digital marketing is a wise investment and effective channel that can help in the growth of business:
Cost-effective in comparison to Traditional marketing: New and small businesses having a tight budget and should opt for digital marketing for quick and effective results. They can analyze the fruitfulness of different strategies being applied and accordingly choose which to go further with.
More power to small companies: Small companies can interact with multiple numbers of customers even without having call centers across the world where they don’t even have physical branches.
Higher conversion rate: Success of business enterprises is measured in terms of percentage of conversion of incoming traffic into leads, sales or subscribers. Digital marketing programs help you to opt out from a number of options that can help you get a higher conversion rate. Some of these tools are Search Engine Optimization, email marketing and social media marketing.
Get better revenues: With higher conversion rate comes higher number of sales and ultimately better revenue that can be invested in expanding business and workforce.
Helps in building brand Reputation: It helps in interacting with people who might be interested in your product and services. If you provide your customer what you promised, they will also help you by word of mouth.
Make use of the next generation technology: The world is welcoming “internet of Things” which is a global ecosystem comprising of interconnected smart gadgets like tablets, computers, smartphones and smart-watches etc. It is going to play a crucial role in the future and a course in digital marketing in advance is going to give you an edge over others.
A course in marketing from a reputed institute not just helps you understand different facets of marketing and makes you techno-friendly, but it also helps you in understanding the minutes of business strategies.What a marketing course has to offer you?
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