Copia has launched a range of 20 retirement income portfolios that invest through exchange traded funds which it claims are the first such products aimed specifically at decumulation.
The Copia Capital Management Retirement Income range offers five risk profiles and four time horizon ranges to help advisers match portfolios to client needs. Each portfolio is designed to meet a clients risk appetite, their withdrawal rate and time horizon.
The multi-asset portfolios are high-income and low-cost, and have been created to consider sequencing risk, longevity risk, interest rate risk and inflation risk.
Henry Cobbe, head of Copia Capital Management, which is the discretionary fund management division of Novia Financial, said all existing funds are built for accumulation, meaning advisers were having to use the wrong tools to help their clients go into drawdown.
He said: "Only advisers know their clients’ retirement income needs and circumstances. Our Retirement Income range is purpose-built to give advisers a compliant investment solution that matches a ‘Safe Withdrawal Rate’, risk level and time horizon for each client.”
The risk profiles have been created by EValue, a specialist stochastic modelling service that creates actuarially-calculated asset allocations, while the funds are invested through iShares exchange traded funds.
Pollyanna Harper, head of iShares Retail UK Sales at BlackRock said: “Whether the aim is to provide equity income or manage bond duration, using ETFs to build portfolios equips investors with targeted tools for achieving exposures that match their outlook and help pursue their goals. This is an exciting solution for the adviser community.”
While Copia’s portfolios are only available through the Novia platform, they have the facility to launch and run on any other platforms that provide access to ETFs.
david.rowley@ft.com
