Specialised Private Capital Partner with J.P. Morgan Asset Management for an Innovative Portfolio Solution

Sydney, 2 June 2026: Findex, a leading financial services group managing approximately $8.5 billion through its Managed Discretionary Account (MDA), in conjunction with Specialised Private Capital, has appointed J.P. Morgan Asset Management (JPMAM) as Implementation Manager for a new Tactical Asset Allocation (TAA) portfolio structure designed to improve portfolio efficiency and reduce costs.

Solving key challenges

Findex and Specialised Private Capital, renowned for its sophisticated structuring capabilities, sought to overcome several issues inherent in TAA implementation in traditional MDA models including:

• Reducing transition time between exposures, which traditionally required trades across two physical managed funds;

• Ability to capture opportunities or reduce risk during volatile markets without significant time delays;

• Access to FX hedging without transaction costs related to moving funds or unit classes; and

• Implementing asset allocation recommendations efficiently while limiting transaction costs or client capital gains tax (CGT).

“This initiative reflects our commitment to continually improve how we serve clients and deliver investment solutions which are responsive, cost-effective and aligned with their long-term goals. By addressing some of the inherent limitations of traditional managed structures, we are strengthening our ability to implement portfolio decisions efficiently, while maintaining the governance, accountability and transparency that sits at the heart of our investment philosophy,” said Kieran Canavan, Chief Investment Officer, Specialised Private Capital.

A tailored solution

JPMAM proposed a progressive framework that leveraged local structuring experts and teamed up with its global investment management solutions teams across equities and fixed income. The initiative involved the creation of two trusts, one Equity and one Fixed Income, integrated within Findex’s MDA.

Each fund is actively managed with defined alpha and tracking targets, and importantly fees are kept low. A TAA overlay enables efficient portfolio tilts and FX implementation, addressing the challenges set out above.

“As Implementation Manager and strategic advisor to the Findex Investment Committee, JPMAM supports Findex through portfolio changes, rebalancing and guidance on optimal implementation. Having, 20% of our total MDA Funds Under Advice (FUA) structured under this approach, we now have greater flexibility to adjust portfolios efficiently and at scale. We have already successfully implemented TAA changes at a significantly reduced cost for clients which reinforces the value of this model,” said Kieran Canavan. "We're proud to be partnering with JPMAM on a solution that we believe aims to set a new benchmark for how managed accounts can work for clients.”

Benefits delivered

• Establishment of a robust portfolio core that provides the ability to implement targeted complementary trades in line with a Total Portfolio Approach (TPA) methodology

• Accelerated portfolio adjustments within the trust, minimising time out of the market

• Efficient implementation of FX and portfolio tilts using derivatives at low cost

• Enhanced confidence in the core portfolio, reducing the need to sell down satellite managers for every change

• Leveraging a leading global asset manager for their expertise in structuring and tailoring solutions

JPMAM’s appointment underscores its expertise in structuring and customising portfolios, significantly innovating the way portfolios can be tailored for greater efficiency and lower costs.

“Every client is different and we wanted to ensure we were able to provide Findex and Specialised Private Capital with a tailored solution that benefited them and their clients. Our flexible approach and deep engagement enabled us to deliver a solution that addresses their operational and investment challenges, setting them up with a foundation for long-term success. Both our teams were highly engaged from the outset, discussing and debating a range of options to find the best fit. We look forward to working closely with and growing the relationship with the team,” said Mark Carlile, Head of Wholesale, J.P. Morgan Asset Management Australia.

_{For more information about JPMAM, visit: am.jpmorgan.com/au}

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