Aim: Is to achieve the most attractive risk adjusted returns within asset classes favoured by Hasley and using the most attractive fund that Hasleys are able to identify
Minimum investment: Lump sum £5,000 and regular monthly £100
Isa link: Yes
Charges: Annual charge of 1.65% for retail shares and 1% for institutional shares. Performance fee 12.5% of return above base rate plus 2% with high water mark. Initial charge of 5% for retail shares and 0% for institutional shares is deducted from the investment amount before shares are purchased
Commission: Initial up to 5% and renewal 0.5%
Tel: 01264 773155
The Elite Hasley best ideas portfolio is a concentrated fund of around 15 investments in the asset classes which Hasley believes, have a strong chance of making money for investors.
There is a heavy weighting in onshore absolute return products and hedge funds, plus exposure to wide credit spreads, a fund investing in US life settlements and another which exploits planning consents and investment opportunities in caravan sites. The fund may also invest in fixed income products, high conviction equities, other leisure related investments and private equity.
Arch Financial Planning managing director Arthur Childs says: “Hasley has produced a high conviction portfolio of its best ideas including many investments which would have previously only been available to institutional investors”.
The fund is run by Hasley founding partner Roderick Collins, who is experienced at investing in a wide range of asset classes, having held senior positions with NM Rothschild, James Capel and Jardine Matheson.
Childs says for advisers who use a core portfolio of multi manager/multi asset funds, this should certainly be a fund to consider. It should appeal particularly to investors who already have a traditional portfolio with a big weighting in equities and bonds and would like to add some more imaginative investments with a bias towards absolute returns.
As it is a non Ucits fund, it has the ability to short when necessary; can hold up to 35 per cent in any investment and has slightly more permissions to invest in unauthorised funds, which can be useful.
Commission is standard and Childs finds the charges in line with previous Hasley funds, but thinks the achievement mark for the performance fee “has been set too low”.
He particularly likes the personal and hands on approach from Hasley, which he says sets them apart from its competitors, citing examples where the partners will go the extra mile to talk personally to advisers and, where appropriate, potential clients.
He says Hasleys investment proposition is “refreshingly straightforward yet comes with an intellectual weight that has been tested over time at the sharp end of the fund management profession”.
Its approach moves away from the traditional equity model and instead “it manages money through the medium of three multi manager funds which are made up of low and non-correlated assets from across a very broad range of asset classes and negligible exposure to the equity markets”.
Suitability to market: Good
Investment strategy: Good
Adviser remuneration: Good