Sarasin & Partners has set up two funds of funds to be managed by a team headed by Sam Jeffries.
The Sarasin global equity fund of funds and the Sarasin global diversified fund of funds products will be listed in the IMA specialist sector and will be structured as open-ended funds under the non-Ucits retail scheme.
Sarasin partner Jeffries will lead the four-person team running the portfolios, with Oliver Tucker as co-manager and support from Lucy Empson and David Vickers. Each fund will invest in 15 to 25 funds.
The Sarasin global equity fund of funds will be benchmarked against a composite of 50 per cent MSCI all countries world index and 50 per cent MSCI all countries world index sterling hedged.
The Sarasin global diversified fund of funds will be measured against a composite index made up of 50 per cent of the above benchmark, 40 per cent in government and corporate fixed-income securities and 10 per cent in cash.
Jeffries says: “These two funds represent an extension of what we have been successfully providing to private clients for several years.”
Minimum investment for both funds is £1,000 and annual management charge is 1.5 per cent.
Whitechurch Securities managing director Gavin Haynes says: “The multi-manager area is crowded now and there are quite a few funds with an established track record, so the funds will have to really stand out to attract assets.”