Quilter Cheviot has added eight new “Building Blocks” funds to its Managed Portfolio Services (MPS) offering.
This new range of funds aims to reduce the overall cost to clients and expand the investment opportunities available to those who invest in the service.
MPS Chief Simon Doherty and MPS Deputy Chief Anthony Webb will manage the funds.
The funds have been designed to provide basic geographic exposure or a specific asset class.
The eight new “Building Blocks” funds are:
- MI Quilter Cheviot Conservative Fixed Interest Fund
- MI Quilter Cheviot Fixed Interest Fund
- MI Quilter Cheviot UK Equity Fund
- MI Quilter Cheviot North American Equity Fund
- MI Quilter Cheviot European Equity Fund
- MI Quilter Cheviot Asian & Emerging Markets Equity Fund
- MI Quilter Cheviot Diversified Yield Fund
- MI Quilter Cheviot Alternative Asset Fund
Quilter Cheviot does not charge a fund management fee for managing these funds. This helps ensure that clients benefit from the maximum cost reductions from the new structure, while mitigating conflicts of interest.
Doherty said, “We see these changes as allowing for greater sophistication in our portfolio building process.
“Clients will for the first time benefit from the direct equity expertise of our 10-person equity research team on some allocations, while continuing to benefit from our award-winning investment fund research capabilities in others.” .
“The end result is an improved investment offering, which simultaneously lowers the overall investment cost for clients. “
The changes reduce the weighted ongoing charges figure of the underlying funds by 30% to 40% depending on the strategy.
Webb added, “We welcome one of the most experienced security selection teams in the industry and I am delighted that we can now extend their recommendations to our MPS clients, while giving them access to a universe of ideas from. larger investment than has historically been possible.
The funds are authorized in the UK by the Financial Conduct Authority. Maitland Institutional Services has been appointed authorized corporate director.