Fidelity says rapid growth in the multi-manager market has led to different product types, which means IFAs need more information on how these strategies work.The firm says multi-man-ager has become a “must- have” product and its latest research shows that 82 per cent of advisers are using multi-manager products. Fidelity sets up its first unfettered funds of funds in 2003. There is no shortage of information for advisers but Fidelity believes that rather than reaching saturation point, advisers need more targeted information about the suitability of the different types of multi-manager products for their client base. It says a lot of providers market their multi-man- ager funds on performance but advisers appreciate inf-ormation about multi-manager which is not based on the provider pushing its products. Fidelity has this week been hosting a series of multi-manager masterclasses across the UK, which will continue until the end of the month. It is using these forums to address topics such as the impact that each multi- manager approach has on advice and the future of multi-manager. Head of IFA channel Peter Hicks says: “Multi-manager is growing so fast and the types of offering are not the same. There are different styles – manager of manager, funds of funds. If you understand what is going on under the bonnet, it easier to dec-ide what is most suitable for clients. “Advisers often spend the majority of their time on the highest value clients. It does not mean they don’t want their lower-value clients but they can deal with them more efficiently through multi-manager. It is not all about performance but suitability – how the strategies are different and why the funds behave differently.”
Vertex Financial Services has extended its outsourcing contract with Gartmore creating a new subsidiary Jessop Fund Managers. The new company will enable Gartmore to hand over their admin and regulation responsibilities of their personal pension unit trust range to Jessop. Gartmore will retain the management of the investor monies within their funds and the underlying […]
David Kiddie’s departure from Barings last Friday was a surprise to some in the investment community.
Close Mortgages is planning a mortgage which can be used to mitigate inheritance tax. The firm is gauging demand for the product, which would enable homeowners to borrow the difference between the IHT threshold and the value of their property and put the funds into a tax-free investment vehicle so that IHT is avoided. Close […]
Winterthur Life has posted a 121 per cent increase in year-to-date single premium individual pensions business to £1bn, up from £463m in 2005.
Over the past year, both conventional and inflation-linked gilts have generated returns in excess of 25 per cent. Meanwhile, inflation has only risen by between 1 per cent and 1.5 per cent. Click here: ILG webinar note 1016
News and expert analysis straight to your inboxSign up
Latest from Money Marketing
Royal Bank of Scotland has joined rivals like HSBC in launching an automated investment advice service for more than five million customers. The bank claims to be the first bank in the UK to launch a “fully regulated” robo-advice service, which will be under its NatWest brand. The service, live from Monday, is targeted at […]
There is nearly £8.5bn in “drifted” legacy UK equity income funds that have underperformed against the sector over the past decade, research has found. As the fund management industry awaits Mifid II next year, Morningstar has analysed the competitive UK Equity Income sector on behalf of Money Marketing and found about 10 per cent of the sector’s […]
Old Mutual Global Investors has appointed Freddie Woolfe head of responsible investment and stewardship, reporting into chief executive Richard Buxton. Woolfe joins from Newton Investment Management, where he was a responsible investment analyst primarily covering the healthcare and technology, media and telecommunications sectors. Previously he held roles at Hermes Equity Ownership Services and HSBC. Woolfe will […]