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Low-cost Fofs offer advisers equity stake in start-up firm

TCF Fund Managers has launched four low-cost funds of funds, offering advisers equity in the business in return for assets under management.
The total clarity defensive, cautious, diversified balanced and long-term growth portfolios will have maximum total expense ratios of 0.8 per cent, partly by reducing ann-ual portfolio turnover to 20 per cent or less. They will feature no initial, exit, switch or performance fees and do not pay commission.

The TERs will reduce from 0.8 per cent to 0.6 per cent as the funds gather assets under management and benefit from economies of scale.

TCF will offer advisers a maximum stake of 49 per cent in the business, divided according to the proportion of assets under management advised.
Advisers can decline to take a stake in the business if they feel it is inappropriate.

TCF Fund Managers founder David Norman says: “Reaction to the launch has been overwhelmingly positive as advisers look to offer a sensible investment proposition post-RDR.”

But Skerritt Consultants head of investments Andrew Merricks warns: “We have seen how quickly things can change and the TER saving could easily be offset by capital losses.”


Aldermore adds two new fixed rates to residential range

Aldermore has added two new two-year fixed rate products to its limited edition range of residential mortgages. The lender has launched a two-year fixed rate at 3.49 per cent available up to a 65 per cent loan-to-value. After two years the rate reverts to Aldermore’s managed rate, which is currently 4.98 per cent. It has […]


Aegon urges Govt to drop Labour’s “piecemeal” approach to pension reforms

Aegon UK chief executive Otto Thoresen (pictured) will today urge the Government to turn its back on Labour’s “piecemeal approach” to pension and saving reform. Speaking at a fringe meeting at the Liberal Democrats party conference alongside pensions minister Steve Webb, Thoresen will call on the Government to do more to create a sustainable savings […]


Restricted access

A recent survey by SimplyBiz which found only 4 per cent of IFAs are considering the restricted advice channel has sparked a discussion about where IFAs will position themselves after the RDR. The debate intensified when Aifa revealed it will consider holding a member vote on whether to accept restricted advisers into its ranks.SimplyBiz chairman […]

The cultural Resolution

Please give a warm welcome to Clive Cowdery, said OBSR’s managing director Richard Downs as he introduced the evening’s keynote speaker. “If for no other reason than he might soon be your boss.” The audience of fund managers and other investment industry types at the third annual OBSR Honours for Excellence in Investment all laughed […]

Three stocks due a Brexit boost

By Mark Martin & Holly Cassell, Neptune Mark Martin and Holly Cassell highlight three high-conviction holdings in the Neptune UK Mid Cap Fund that they believe are well positioned to benefit from Brexit. Read more Important information Investment risks Neptune funds may have a high historic volatility rating and past performance is not a guide […]


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