Research and fund brokerage firm Chelsea Financial Services has moved into portfolio management by launching a four-strong range of risk-rated products.
The move by the firm continues a trend of fund research and platform providers offering multi-asset and multi-manager products. Chelsea's range will consist of cautious, balanced, aggressive growth and income funds.
The firm's research team, headed by Darius McDermott, will manage the funds. The annual management charge will be 0.3 per cent with the portfolios holding a combination of funds, investment trusts and exchange-traded funds (ETFs).
Mr McDermott said: "For nearly two decades, clients have relied upon our research and fund selection expertise, but many have said they want us to do it for them.
“The new funds will give our clients a complete range of options, depending on how confident they feel making their own investment choices."
The fund range adds to the firm's execution-only platform for individual investors and advisers, and its ratings brand FundCalibre, which was set up as a joint venture with Albemarle Street Partners in 2014.
Chelsea said it would launch the managed funds range with a £1 per unit offer until June 5. The 0.3 per cent charge will also be rebated to investors investing in the first year.
