A wrap account investment product is an unlisted investment fund that is accessible via a wrap account. Typically, the investment products will be professionally managed by a funds management firm for a fee. A wrap account gives SMSF investors access to unlisted investment funds, which would usually be inaccessible on a small scale. 

In this episode of SMSF Mate's podcast, Gareth, Ashwin, Sonny, and Tim discuss wrap investment platforms in detail and their personal experience with them in the past. 

You can read on the SMSF Mate website here:  https://www.smsfmate.com.au/