Its three Dublin-domiciled multi-manager funds – the extended risk portfolio, optimum risk portfolio and reduced risk portfolio – were launched in November 2004 and aimed at pension funds.They have a minimum investment of £250,000, which will reduce to £5,000 on conversion to the new structure. All three funds are multi-asset portfolios that aim for absolute returns and are risk-graded. As qualified investor schemes, they are currently able to hold BAM’s FSA-recognised multi-manager funds, which are already available to retail investors. This will change when the funds convert to Ucits III and, as a result, the total expense ratio of each portfolio will fall. BAM intends to distinguish itself from the competition by positioning asset allocation as the key driver of returns, with fund selection a secondary consideration. It has almost doubled the funds’ exposure to hedge funds in the last year to the maximum permitted weighting of 30 per cent. This reflects the multi-manager team’s cautious view of markets and expectation that volatility will increase. Director of multi-manager investments David Coombs says: “We have increased hedge fund exposure because we were cautious ahead of the summer and wanted to take some risk out of the portfolios. Having seen low volatility for some time, we felt this is not sustainable and hedge funds do better when markets are volatile.” “We are converting the funds to Ucits III because we want to bring them to a retail audience and it is the best way to benefit current investors. We have been in the background for a long time and are ready to ratchet up our profile in the retail market.”
Advisers can help clients boost their pension funds by over 70 per cent by taking advantage of the new annual allowance now rather than waiting according to Skandia.Skandia’s analysis shows that a client aged 50 could boost their pension fund by 73 per cent by investing their entire allowance now compared to waiting ten years […]
Barings has appointed James Syme to head up its global emerging markets team. Syme has spent the last nine years at SG Asset Management running its emerging markets desk. He will report to head of equities David Kiddie.
The European Court of Justice has said the Pension Protection Fund is inadequate and should provide full protection to those who lose some or all of their occupational pensions. ECJ advocate general Dr Juliane Kokott says the EU requirement is for full protection to be offered to workers, meaning the PPF may have to be […]
In uncertain market conditions, it is very difficult to advise investors where to put their money. I believe that Close Brothers Private Bank, the offshore company of the Close Brothers Group, has found the best solution so far.
International private medical insurance (IPMI) can be a complex business, especially when you need to find cover that complies with all the local legislations and regulations of a chosen country.
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