Institutional fund manager Orbitex is to launch into the UK IFA market this autumn following calls from IFAs to open its top-performing fund to retail investors.
US-owned Orbitex is to offer an Oeic next month, with the first sub-fund expected to be a managed product run by global chief investment officer Robin Geffen.
The new fund, which is still subject to regulatory approval, will be similar to, although not a clone of, Orbitex's pooled pension exempt balanced fund which has been among the top performers in its pension fund sector since its launch in December 1998. Orbitex's funds are currently only available to the UK retail market through self-invested personal pensions.
Geffen says Orbitex is looking to bring a fair and transparent charging structure to the market, along with a robust global sector based investment style. He says Orbitex's first retail offering will not be launched to follow fashion but will be a focused actively managed and concentrated portfolio holding between 50 and 60 stocks.
Geffen says: “We want to bring institutional clarity and understanding to the UK retail market. We will be submitting this fund for quarterly analysis to risk reporters and making the data available for the IFA market.”
Hargreaves Lansdown head of research Mark Dampier says: “No one has ever heard of them, which may be a problem, but it could be made an advantage.
“I think Robin is a fine fund manager. They are running money in a sensible way and they have got good results. This is just what I would want from a managed fund. It has got a lot to offer IFAs.”