Wealth management group expands fund range

Wealth management group expands fund range

Tavistock Wealth, the investment management arm of consolidator Tavistock Investments, has added three new funds to its range.

The wealth management business now offers seven funds in its Acumen range, made up of baskets of exchange traded funds (ETFs) which form the building blocks for Tavistock Wealth's range of risk targeted investor portfolios.

Each portfolio typically holds 50 or more ETFs across nine asset classes and 98 countries covering over 18,500 underlying securities.

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First of its new additions is the Bond Portfolio, which has a minimum fixed income exposure of 80 per cent, investing in government, corporate, inflation-linked and emerging market bonds.

Also added is the Equity Portfolio, which has a minimum exposure of 80 per cent to developed market and emerging market equities.

Finally there is the Strategic Portfolio, which invests in a range of global asset classes, including equities, commodities, property and bonds.

Tavistock said it has expanded its fund range following demand from clients for asset-specific portfolios.

Brian Raven, the company's chief executive, said: "We continuously assess our products to ensure that they protect investors in the face of political and economic uncertainties, such as those surrounding Brexit. 

“We are now better able to mitigate risk with these additional funds and we have also increased the extent to which our overseas portfolio exposures are hedged back to sterling."

In December Tavistock announced that it had made a loss of £688,000 for the six months ending in September 2016, which was a reduction of 16 per cent on the same period for the year before.

Meanwhile the company's funds under management increase from £540m to £690m over the course of the year.

In January Mr Raven told FTAdviser that he planned to focus on hiring more advisers and marketing its discretionary services, rather than continuing its shopping spree for firms.