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Barclays moving into multi-manager

Barclays is introducing a range of multi-manager portfolios for retail customers investing between £25 and £1m.

The portfolios aim to provide a straightforward solution to a wide variety of investment needs.

Barclays’ advisers will evaluate customers’ financial objectives and appetite for risk to recommend a personalised approach to investment. The portfolio types include income, cautious, balanced, growth and adventurous growth.

Each of these is available through a unit trust or Oeic wrapper.

Initial fees start at 4.5 per cent and decline as the amount invested increases.

Annual charges vary to reflect the risk characteristics of the portfolio, ranging from 1.2 per cent for the income portfolio and 1.25 per cent for the cautious portfolio to 1.5 per cent for the balanced, growth and adventurous growth portfolios.

Minimum investment is a £500 lump sum or £25 a month. Customers investing between £50,000 and £1m will benefit from additional services.

Barclays has recruited 17 leading investment houses to manage specific mandates in line with their areas of expertise.

So far, nearly £3bn in existing customers’ funds have migrated to the new portfolios.

Tee Financial director George Rutt says: “This could provide a useful service for those people wanting to invest £25 a month but I do not think that these days people see the bank as the best place to make their investments.”

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