Rathbones launches managed portfolios for Greenbank range

Rathbones launches managed portfolios for Greenbank range

Rathbone Investment Management has launched a range of model portfolios which will invest in the Rathbone Greenbank range.

In a statement today (July 7), the firm announced the launch of the Greenbank LED MPS, and Greenbank LED Managed.

The former, an execution-only offering, has a minimum investment threshold of £15,000.

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The latter is an intermediated discretionary proposition for clients with a minimum investment threshold of £150,000. Advisers using the LED Managed will have direct access to a dedicated investment manager who will be responsible for ensuring that investments remain suitable for the client’s individual needs.

The service is an adviser-led execution only product, so Rathbones will only act on client instructions following advice received from a financial adviser.

Both offerings will provide comprehensive reporting packages including a year-end tax pack to help the investor or their accountants complete self-assessment tax returns. Investors will also receive reporting on the sustainability credentials of their investments.

The products are both eligible for tax efficient structures including trusts and settlements, Isas, Sipps and offshore bonds. 

Greg Mullins, head of sales at Rathbones, said: “Having launched the Rathbone Greenbank Portfolio Range, this development allows us to offer further propositions and flexibility to our intermediary clients, ensuring that they have access to our multi-asset and ESI expertise within the most appropriate proposition them.”

The Rathbone Greenbank portfolio range comprises four sustainable multi-asset investment funds.

These are the Rathbone Greenbank Total Return Portfolio, Rathbone Greenbank Defensive Growth Portfolio, Rathbone Greenbank Strategic Growth Portfolio, and the Rathbone Greenbank Dynamic Growth Portfolio, as well as the Greenbank Global Sustainability Fund.

The first four funds, which are new, are managed by Will McIntosh-Whyte who will be supported by David Coombs. Research is provided by the Rathbones Greenbank Investments research team and Rathbones’ equity and fixed income analysts.

Each multi-asset fund targets different levels of risk, and employs the same negative and positive criteria as the Rathbone Global Sustainability Fund for exposure across equities and corporate bonds. 

Additional sustainability criteria apply to other asset classes such as government bonds and structured products.  

Greenbank can also veto investments which do not meet the funds’ responsible investment policy.

Greenbank’s sustainability framework includes energy and climate, innovation and infrastructure, and health and wellbeing.  

The launch comes after last month, Rathbones agreed to acquire advice firm Saunderson House for £150m, a move that added £4.7bn to its assets under management and accelerated consolidation in the advice space.

The acquisition added 55 in-house financial planners to Rathbones’ team, as well as 2,200 clients with an average portfolio size of £2.2m.

Rathbones said the deal would boost its financial planning assets to £8.3bn and make it the UK’s third largest wealth manager with £61bn in total AUM.  

The firm’s chief executive officer subsequently said there was a surplus cash “cushion” of £60m if the company wanted to do more deals