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Julian Gibbs

Close Finsbury has come up with an innovative new fund called the Multi Asset Portfolio.

It has teamed up with Berry Asset Management, which has an excellent
past performance record but is normally only available to those with
250,000 or more to invest. However, minimum investment for this
new portfolio is just 25,000.

Asset allocation will be based on the Berry model portfolio, which
has outperformed its benchmark by around 12 per cent over the past
five years. This benchmark is made up 50 per cent of the FTSE
All-Share index, 20 per cent of the FTSE All World Ex-UK index and 30
per cent of the 3M Interbank Sterling Investment index. Over the
five-year period, it has also outperformed the FTSE All Share index
by over 20 per cent.

The new portfolio is much more widely spread than other funds of
funds. It will hold 36 per cent in UK equities, 10 per cent in the
US, 6 per cent Europe, 5 per cent in Japan and 3 per cent in natural

It will also hold 12 per cent in fixed-interest securities, 10 per
cent in commercial property, 8 per cent in structured investments, 8
per cent in hedge funds and 2 per cent in cash.

It is only being marketed through intermediaries so the public cannot
buy it direct. The wide range of assets it holds means that it is
likely to perform consistently above its benchmark.

The majority of the fund will be invested in unit trusts, Oeics,
investment trusts and offshore funds. Funds may be sold if they show
underperformance for more than three months or if there is a
significant change in the fund’s objective or management style.

This fund is an ideal investment for self-invested personal pensions
or any portfolio where a wide spread of asset classes is required. It
is much lower risk than a fund investing totally in equities.


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