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Edinburgh-based Cornelian Asset Managers is launching a new diversified portfolio service to take advantage of the growing discretionary market for a minimum investment of £75k.

While a large amount of the group's business is done in the high net worth space, the group said the new service would make the same level of expertise available to the wider market.

Investors will be offered the choice between two portfolios, depending on their attitude to risk. The Cornelian Diversified Balanced portfolio is aimed at clients who wish to achieve long-term capital growth and income, while the Cornelian Diversified Growth portfolio is for clients wishing to achieve long-term capital growth.

Each portfolio is then invested in Cornelian's fund range, providing diversification across different asset classes and geographies.

John Jackson, a director at Cornelian, said: "We believe this is the perfect solution for the top end of the IFA market to offer clients a multi-asset, actively managed portfolio with the look and feel of a discretionary investment management service."

Typically, the portfolio will hold a blend of UK equities, global funds, fixed interest and property. Because the investment is made in a fund, there is no capital gains tax on purchases or sales of the underlying investments when sales are made of the overall fund.

Clients will also receive comprehensive reports every six months providing information on the underlying investments.

A staged investment option will be embedded in the service to allow investments to be made over a period.

FUND FACTS:

IFA commission: 3.5 per cent

AMC: 1.5 per cent