The astute portfolio is available to investors with a minimum of 35,000 and invests 70 per cent in Insinger’s multi-manager income fund and 15 per cent each in two Insinger hedge funds of funds – absolute return market neutral and absolute return directional.
On the income side Insinger prefers managers that are not restricted by benchmark indices, such as Jeremy Lang of Liontrust and Neil Woodford of Invesco Perpetual. On the hedge fund side, Insinger will draw on 10 years’ experience of managing discretionary portfolios with considerable hedge fund exposure.
Although the company says it follows a manager of managers approach, it does not use segregated mandates. Instead, it identifies successful managers through its research process and accesses their skills through their existing funds. As the fund manager is the main focus for Insinger, it will follow individuals if they move companies.
Insinger de Beaufort director Peter Fitzgerald says: “We call our approach manager of managers because our research is at the manager level. Existing retail funds tend to be managed by people in the public eye and if they go wrong, everyone knows about it and all the databases carry the information. But if segregated mandates go wrong, the only people who know about it are the people who set them up.”
John Cowan is general manager at Pivotal. MLC is the group’s manager of manager company