Invesco has launched a range of five multi-asset funds, with each fund designed to meet a different risk target.
The Summit fund range will be managed by Nick Mustoe, chief investment officer at Invesco.
All of the underlying funds held within this multi-asset range are funds run by Invesco. This is known in the industry as “fettered”, as it means the manager of the fund range does not have a free hand to choose the best performing funds from across the market.
The asset allocation decisions for the fund range will be made in conjunction with the global solutions team at Invesco. There will be long-term asset allocation based on risk profile and monthly asset allocation based on prevailing market conditions.
The ongoing charge for each of the funds will range from between 60 and 80 basis points and he range the minimum investment requirement is £500.
Mr Mustoe said: “From an investment perspective, it is exciting to be able to take advantage of one of our key strengths as an organisation – our diversity of thought.
"For us, it is a key differentiator that has real-world investment applications. It means that we can bring together very different investment approaches and styles that aim to deliver truly diversified sources of return for the benefit of our clients."
Patrick Connolly, chartered financial planner at Chase De Vere, said Invesco are entering a crowded marketplace.
He said: “Invesco Perpetual has a strong and well-resourced investment team, which is more than capable of running these types of funds effectively.
"However, this a very crowded space and while their new range may be considered by some advisers, the funds don't necessarily stand out enough from the competition and so they may need to demonstrate strong risk-adjusted performance figures before they become more popular."
david.thorpe@ft.com
