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The private wealth management of one of Britain's richest families has branched out and is now in the market to manage the investments of individuals.

Iveagh Ltd, the family office created to manage the Guinness family wealth, has announced the launch of its first retail fund, the Iveagh Wealth fund.

It is believed to be the first of a number of little-known family-run trust and wealth funds which look after the enormous inheritance of the super-rich, many built up over centuries.

The fund’s prime objective is wealth preservation, aimed at families who wish to protect their assets and pass their wealth from one generation to the next.

The fund seeks annualised returns of 9.5 per cent with constrained risk using a multi-asset approach.

Managed by John Ricciardi, Cambiz Alikhani and the Iveagh Investment Committee, the aim is to replicate the returns obtained by the Iveagh wealth management portfolio, employing portfolio optimisation and asset allocation strategies currently used by Iveagh for its high net worth clients.

The optimised portfolio universe is drawn from alternatives, real assets, major market equities, emerging market equities, bonds and cash. The fund invests almost entirely in daily dealing quoted securities.

The tactical asset allocation strategy aims to increase the portfolio return and reduce risk by making tactical adjustments to holdings on a quarterly basis. This strategy makes use of highly liquid instruments such as exchange traded funds and the direct purchase of investment bonds.

The fund is a bi-monthly dealing Oeic, domiciled in Dublin and is UCITS III qualified. Minimum investment is £50,000 or the currency equivalent and the fund offers income and accumulation shares, subject to 18 per cent CGT for UK investors. The annual management fee is 1.5 per cent and the performance fee is 10 per cent over hurdle.

Lord Iveagh, chairman, said: “The Iveagh Wealth fund is a bold and exciting step for our company, which has a proven track record of providing sensible returns for our clients. The investment team is dedicated, experienced and knowledgeable and we believe that by replicating our multi asset portfolio for the retail market, UK investors will share the experience and rewards of our private clients.”

Mr Ricciardi, said: “Our primary objective is to preserve and enhance our clients’ wealth and we do this by seeking to manage risk and provide protection and growth in good and bad market conditions. We believe this requires a profound understanding of asset price cycles and investor psychology, so our approach combines valuation and behavioural analysis, helping us to achieve absolute returns over a market cycle.”

James Higgins, director of Chamberlain de Broe, has reviewed the fund with regard to how it could add value to client portfolios. He said: “Of particular appeal is Iveagh’s predictive modelling, which has been so consistent and helpful over the recent very difficult years.”