Barclays Wealth is to launch a discretionary portfolio management service to target the intermediary market that will invest across nine asset classes.
Equities and bonds will be considered in the portfolio construction alongside non-traditional asset classes such as emerging markets, high yield debt, property, commodities and alternative trading strategies.
The portfolios will invest in a combination of active and passive funds, based on the strategic asset allocation decisions of its investment committee, chaired by Barclays Wealth chief investment officer Aaron Gurwitz.
The decisions are taken on a five-year view, with the committee meeting every two weeks.
The highest-risk portfolio has a 51 per cent exposure to developed market equities and 17 per cent exposure to emerging market equities, with a volatility range of between 11 per cent and 15 per cent. The lowest-risk portfolio has a 43 per cent weighting towards short-maturity bonds, a much lower exposure to equities and a volatility range of up to 5 per cent.
Bryan Parkinson, the director of UK IFA distribution at Barclays Wealth, says the service would allow advisers to work on client relationships, while investment decisions were outsourced.
The service is set to make its debut on the wrap platform Ascentric, but will be rolled out to other platforms after launch.