Henderson has launched a range of four multi-asset passive funds under the Cirilium brand in a joint venture with Intrinsic.
Risk management model provider Barrie & Hibbert will provide the four-strong range’s asset allocation, which will match Intrinsic’s attitude to risk tool, and Henderson’s multi-asset team will choose the most appropriate passive vehicle to meet this. Asset allocation will be reviewed quarterly.
The funds, which launched on 8 February, will invest in passive investment portfolios and exchange-traded funds to gain exposure to a range of asset classes. They can also hold derivatives to help meet their investment aims, as well as for hedging and efficient portfolio management.
Henderson UK retail business associate director Danny Knight says: “This complements the successful Cirilium range of multi-asset multi manager funds managed by Paul Craig and is the result of client and adviser demand for a lower cost passive vehicle to act as an investment solution to meet their needs.”
According to the funds’ prospectus, the Cirilium Conservative Passive fund’s maximum exposure to equities will be 30 per cent, Cirilium Balanced Passive’s will be 55 per cent, Cirilium Moderate Passive’s will be 75 per cent and Cirilium Dynamic Passive’s will be 90 per cent.
All four funds will sit in the IMA Unclassified sector and are initially being made available through the Aegon Retirement Choices platform, Cofunds and Sanlam.
Charles Stanley Direct head of investment research Ben Yearsley says: “People have been expecting a rise in passive funds post-RDR so it is no surprise to see more funds launched.”