Momentum gains

Momentum Global Investment Management has extended its UK retail distribution network with the addition of its risk-rated Factor series fund range to the Old Mutual Platform.

This move follows a number of other platforms including FundsNetwork, Cofunds, Elevate, Standard Life, Aviva, Zurich and Transact which have all added the range to its respective propositions since its launch in late 2012.

Factor Series fund range is aimed at providing advisers and their clients with a solution designed to deliver real returns between CPI plus three and five with strongly managed risk, underpinned by Distribution Technology risk ratings.

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Andy Davies, head of UK retail sales at Momentum, said: “Old Mutual operates one of the biggest and most well regarded platforms in the UK adviser market so for us to work with them was a natural next step.

“We recognise that post RDR, advisers are operating on a more open architecture basis, so this extension to our distribution network ensures our adviser partners can use our solutions across a broader range of customers.”

IFA verdict

Andrew Whiteley, a financial adviser with Hertfordshire-based Provisio Chartered Financial Planners, said: “Choice is good – more competition is not a bad thing. A lot of adviser firms will probably go with funds that they are familiar with and have a track record they can rely on. I suppose this is the biggest hurdle for new entrants.”