View more on these topics

Cazenove makes inroads into IFA market

Cazenove Investment Fund Management is making inroads into the IFA market with the Cazenove universal investment bond, established in conjunction with AIG Life.

This unit-linked bond enables Cazenove to extend their business from institutional investors and private clients into the retail market through IFAs. It provides access to four Cazenove multi-manager funds — Cazenove universal UK growth portfolio, Cazenove universal balanced portfolio, Cazenove universal growth portfolio and Cazeove universal international portfolio. Investors can choose any number of these funds.

The multi-manager team, headed by Mark Harries, will select funds for the portfolio funds on their own merit, with no obligation to include any fund management group. Each fund is analysed in detail and Cazenove arranges meetings with the fund managers to supplement performance-based research.

The funds are also available through the Cazenove universal portfolio service. However, this bond was designed as a tax-efficient investment bond for high-net-worth investors with at least £50,000. The bond structure allows growth to be rolled up gross, without investors having to go offshore. This means that the returns investors get will be paid after tax has been deducted.

Cazenove&#39s use of four multi-manager funds allows investors to diversify across fund management groups, while still following a defined objective, such as UK growth. However, this fund is likely to appeal only to high-net-worth clients, as its £50,000 minimum investment may be too steep for the mass market.

According to Standard & Poor&#39s, the Cazenove balanced portfolio B fund is ranked 43 out of 75 funds based on £1,000 invested on a bid-to-bid basis with net income reinvested over three years to May 24, 2002.

Recommended

Norwich & Peterborough joins Trigold platform

Norwich & Peterborough Building Society is joining the Trigold mortgage sourcing platform letting intermediaries find out about products and complete the application process online. N&P says its electronic integration with Trigold will make decision-making faster, reduce administration costs and speed up the delivery of products to the market. N&P&#39s decision to join the Trigold platform […]

Nationwide profits fall by third but lending share recovers slightly

Nationwide Building Society saw its profits plummet by £109m to £233m in the year to April 4.But it achieved a 3.1 per cent share of net residential mortgage lending, up from 0.2 per cent at the half-year but down from its 9.1 per cent share in 2001.The society attributes this growth to its fair pricing […]

Geffen forms new company with £30m of Orbitex assets

Orbitex chief investment officer Robin Geffen is setting up a new company after snapping up the UK investment contract of the Zurich-based fund manager.Neptune Investment Man-agement will launch with assets of around £30m – inc-luding one pension fund and three Oeics – transferred from Orbitex and will initially target high-net-worth IFAs and the Sipp and […]

Sub-prime numbers

Traditionally, the market factors that any mortgage adviser will immediately recognise as non-conforming, sub prime or adverse credit within an applicant&#39s credit profile are – arrears, county court judgments and bankruptcy/individual voluntary arrangements.Conventionally, these have been the measure of an applicant&#39s credit risk, with, for example, an applicant who has had some arrears in the […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com