Quilter Cheviot has added eight funds to its managed portfolio service (MPS) with the aim of reducing overall cost and expanding investment opportunities for clients.
In a statement today (November 22) the firm said it has launched eight “building blocks” funds, designed to provide exposure to specific geographic or asset classes.
Fund management fees will not be charged for the funds, which the firm said will reduce the weighted ongoing charges figure (OCF) of the underlying funds by between 30 and 40 per cent, depending on the strategy.
The funds will be managed by Quilter Cheviot’s head of MPS Simon Doherty, and deputy head Antony Webb.
The funds are:
- MI Quilter Cheviot Conservative Fixed Interest Fund
- MI Quilter Cheviot Fixed Interest Fund
- MI Quilter Cheviot UK Equity Fund
- MI Quilter Cheviot North American Equity Fund
- MI Quilter Cheviot European Equity Fund
- MI Quilter Cheviot Asian and Emerging Markets Equity Fund
- MI Quilter Cheviot Diversified Returns Fund
- MI Quilter Cheviot Alternative Assets Fund
Doherty said the firm sees the changes as enabling greater sophistication in its portfolio construction process.
“Clients, for the first time, will benefit from the direct equity expertise of our 10-strong equity research team across certain allocations, while continuing to benefit from our award-winning investment fund research capabilities across others.
“The end result is an enhanced investment offering, which simultaneously reduces the overall cost of investing for clients.”
Earlier this month, Quilter, of which Quilter Cheviot is a part, re-structured into a high net worth focused arm and one catering to affluent individuals.
The £27.6bn HNW arm will be run by Andy McGlone, chief executive of Quilter Cheviot, and will focus heavily on the group's DFM services, whereas the £80.9bn affluent arm will be made up of three businesses, Quilter Financial Planning, the Quilter platform and Quilter Investments.
In December last year Quilter removed VAT from its managed portfolio services, including the Quilter Cheviot MPS, after asking HMRC for a formal VAT ruling.
sally.hickey@ft.com
