IBOSS launches fund arm with four risk-rated products
Investment services provider IBOSS Limited has launched an asset management business with a four-strong multi-manager range.
Chris Metcalfe, who co-founded the company in 2008, will be the lead manager for the IBOSS Asset Management (IAM) funds, with support from analysts Chris Rush and Michael Heapy.
The funds invest across equities, bonds, property and cash, with each portfolio expected to take between 35 and 40 positions.
The four risk-rated funds - MGTS IBOSS 1, MGTS IBOSS 2, MGTS IBOSS 4 and MGTS IBOSS 6 - carry ongoing charges figures ranging from 1.1 per cent to 1.36 per cent.
The vehicles will have no pre-conceived bias towards either passive or active products, though Mr Metcalfe added: “in situations where we cannot find active funds which consistently outperform the benchmark, we may use a passive vehicle to maintain exposure to a sector while reducing costs.”
The investment team will also look to avoid single country funds which could “limit a fund manager’s ability to negotiate through difficult economic trends”.
Each underlying holding will be established with a minimum 2 per cent weighting and a maximum 4 per cent weighting, the firm added.
While regulated onshore funds are preferred as holdings, offshore funds will also be considered.