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OPM distribution link with Cofunds

OPM Fund Management – formerly Smith & Pinching Portfolio Management, has set up a distribution link with Cofunds as part of its drive into the IFA market.

OPM says it found that not being available on Cofunds was a disadvantage when marketing its multi-manager funds to IFAs.

Many advisers use the platform to simplify admin and consolidate reports, so are reluctant to invest in funds that are not on the platform.

OPM’s balanced managed, equity high income and UK equity funds are already available through Transact and wrap platforms from Standard Life, Norwich Union Lifetime and SippCentre. But the company regards the Cofunds’ link as a an important step towards nationwide distribution.

OPM – which stands for Only Performance Matters – also says that the performance of its UK equity fund has improved since it switched to a hybrid multi-manager approach last October. The fund previously invested 100 per cent in direct equities and was used as a liquidity tool for bespoke clients’ portfolios.

It now has a 50/50 split between direct equities and investment funds – a move which the company says has taken it to the top decile over the last five or six months.

Investment manager Ross Henderson says: “The fund has performed very well since we filtered the changes through. We did not sell the direct equities overnight. As we sold individual shares, we reallocated the money to six collectives that we decided to support. We targeted concentrated high-alpha funds and initially invested £100,000 into each with the intention of building them up.

“The blend of equities and collectives has made us more selective in the investments that we choose. Although we were not constrained by a benchmark, if we did not like Glaxo previously, we may have held 2 per cent. Now we would hold nothing. “


HSBC fund steps into private equity

HSBC’s OpenFunds global return fund has diversified into private equity by taking a small holding in Pantheon International Participations, an investment trust that also takes a fund of funds’ approach.

Farewell all

I write this blog with tears streaming down my cheeks. Why? I hear you ask. Well – ’tis because it’s my last pensions blog for Money Marketing. Next Monday I move to write about pensions and investments for another paper and will be replaced by our lovely life and protection reporter Nicola York who, I have been repeatedly assured by various contacts, is much more attractive than me.

Special delivery

Mortgage specialist Mark Harris talks to Gregor Watt about setting up Savills Private Finance, offering a one-stop loan solution and its national and international aspirations. He also gives his views on Hips and affordability.

9 October thumbnail

Johnson Fleming set to host webinar on auditing auto-enrolment schemes

With 23 auto-enrolment compliance notices issued by the Pensions Regulator, and an evolving legislative landscape meaning previously compliant schemes may now be in breach of regulation, now is the time to think about auditing your auto-enrolment scheme. Johnson Fleming is hosting a webinar on 9 October at 11:00 on how to audit your scheme to ensure compliance, avoid breaches and fines and overcome data issues.


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