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Evercore doubles fund range

Boutique firm Evercore Pan-Asset has doubled its risk-graded Oeic fund range with the introduction of the PanDynamic defensive and PanDynamic aggressive funds.

The firm, which is partly owned by US investment boutique Evercore Partners, was founded in 2007 by Conservative MP John Redwood, the late Robert Brown – former chief executive of Sarasin Chiswell – and former chief executive of Absolute Fund Management Christopher Aldous.

The PanDynamic growth and PanDynamic balanced funds were introduced in March this year. These were launched first because it was felt there would be greater demand for these risk profiles. However, there was also demand among IFAs for a more defensive portfolio and for an adventurous fund with a strong focus on Asia, so these portfolios have followed.

All the funds in the range invest only in exchange-traded funds to gain low-cost access to a range of asset classes. They are based on the discretionary PanDynamic model portfolios available to IFAs through the Ascentric wrap platform.

The Oeics were designed to widen the investor base to advisers who do not necessarily use the Ascentic platform and to those with clients for whom an Oeic structure is more suitable because they have smaller sums to invest

The defensive fund will typically invest 90 per cent in defensive fixed income assets and 10 per cent in risk assets such as equities and property through exchange-traded funds. The aggressive fund will typically invest 100 per cent in risk assets.

An advantage of these funds is that active management only at the asset allocation level keeps costs down relative to funds that contain actively managed funds. The Oeic structure may also make it easier for advisers to invest in ETFs without the need to go through a stockbroker. The Oeic structure also allows commission to be paid to advisers, which is useful to those who do not charge fees.

Investing entirely in passive funds may not appeal to all advisers and investors. Some may think the top-performing actively managed funds are worth paying for as they have the potential to outperform stockmarkets rather than track them. However, supporters of passive investments would say any outperformance generated by active management could be eroded by charges.


George-Ladds, Head of investment and pension research Fair Investment

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