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Home > Investments > Multi-Manager Funds

By Julia Bradshaw | Published Jun 07, 2012

Cazenove ideal for IFAs, says Panacea founder

Mr Bradley said Cazenove’s range of six risk-profiled multi-manager funds was “an ideal solution for advisers looking to outsource asset allocation and fund selection decisions” in the run-up to the retail distribution review.

He said: “With a 20-question Dynamic Planner tool available free for advisers to download online, the tool can help establish clients’ attitude to risk with one downloadable report for the their files.”

All six portfolios are independently risk-profiled by Distribution Technology from four to eight. Annual management charges start at 0.5 per cent.

Earlier this year Cazenove reduced its charging structure in preparation for RDR, which pushed down total expense ratios on its multi-manager range.

Marcus Brookes, head of multi-manager and co-manager of Cazenove’s multi-manager range, said that after RDR investors will see more clearly the fees they pay and will want to see a fund-of-funds with TERs below 2 per cent.

He said: “There is a view that the price of multi-manager is high in terms of TER and some are well over 2 per cent, so I can understand why that is concerning to some people, but ours are not. However it is not just the price you should be looking at, it is the value.”

Cazenove’s £808.2m Multi-Manager Diversity Fund, which is rated risk category four by Dynamic Planner, was up 3.5 per cent year-to-date in its April factsheet.

One-year performance for the Morningstar Bronze-rated portfolio was 3.7 per cent, while three-year performance was 28.7 per cent.

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