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Architas blends active with passive

Architas has changed the structure of its multi-manager portfolio range from manager of managers to fund of funds.

The revamped funds will become the multi-asset blended range, providing advisers with cost-effective risk-profiled multiasset portfolios.

The range will comprise five risk-profiled funds, including the Architas MA blended reserve, moderate, intermediate, progressive and growth funds, plus three single-strategy funds including the Architas MM strategic bond, monthly high income and UK equity funds.

Architas says the move from Mom to Fof is almost secondary, as the main purpose was to bring the funds in line with the rest of its multi-manager multi-asset fund range. It already has multi-asset active and multi-asset passive fund of funds ranges, so introducing another range which blends the two was the next logical step. Blending both approaches enables Architas to combine actively managed funds’ potential to outperform an index with the lower costs of passive funds, which can also provide exposure to areas in which actively managed funds find it difficult to generate returns above the market.

Chief investment officer Caspar Rock points out the team has been running the old Winterthur Elite funds, now branded Axa, on a blended basis for the last 10 years. He believes the fund of funds structure has some advantages over manager of managers. For example, buying or selling funds to express investment views is quicker and easier than beginning or ending relationships to run mandates.

Head of business development Cedric Bucher says: “The change brings all three ranges into the same investment philosophy structured around six risk profiles, with asset allocation driven by eValueFE.”


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