The Products Like This tool (PLT) finds similar products to a pre-selected ‘Base Product’ in the Managed Funds, ETFs, LIC/LITs and Superannuation universe, using both ‘Matching Criteria’ and ‘Filters' selected by you.
Matching Criteria are used to find products with similar data attributes to those of the Base Product you have selected, whether that is on a fee, performance, risk and/or complexity basis. Up to three Matching Criteria can be selected to define the universe of similar products.
Filters are used to then filter out similar products from the search results you do not want to see, i.e. you only want to review ‘Highly Recommended’ rated products. Some of these filters are pre-set but can be changed by you.
Based on the Matching Criteria and the Filters you select, the search engine will then return products which have similar attributes, ranking them from top to bottom, the closest match through to the least matched.
Note: The tool will only return products which have data for each of the Matching Criteria attributes you select, so if a product only has data for two out the three matching criteria you select they will be excluded from the results.
A use case might be for example that Lonsec has recently downgraded ABC Fund in your clients portfolio and you need to complete a review and recommendation for a suitable replacement. PLT will assist you in identifying comparable products using the parameters you select, such as fee, performance, risk and complexity.
Click here to view a step by step guide on how to use PLT.
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