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Partner fund to feature factory gate cost

Bloomsbury Financial Planning is to offer a multi-asset multi-manager fund, which it says will have a maximum total expense ratio of 60 basis points.

The fund, which is set for launch in the first quarter of next year, will be managed by Bloomsbury and branded as Wealth Partner.

The firm aims to have £250m invested in the fund in the first year, increasing to £1bn after three years.

The low-cost vehicle, which will offer factory-gate pricing, will invest in 12 underlying passive funds tracking different asset classes, including equities, bonds, property and commodities. It is being aimed at financial planners who want low-cost exposure to assets.

Bloomsbury Financial Planning partner Jason Butler says: “For the first time, financial planning firms which believe in passive investment will have access to a very low cost fund that is automatically rebalanced across all the asset classes.

“If you believe in pure asset class portfolios and pure indexing and you are big enough to charge your client a fee, then you can buy this factory-priced product, which is the same price for us as it is for you.”

The Red House director Gareth Marr says: “Anything that Jason Butler does is worth a look at. He is a leading innovator in passive investment management and has a great brand name in the field. It is definitely something that I would look into further.”


Product tests for guaranteed duo

Lifesearch has developed two guaranteed life insurance products with life companies and is set to test them alongside each other to gauge customer interest.Both products will require tele-interviewing, a medical and, where necessary, a GP report at the outset but policyholders will be guaranteed a payout if they make a valid claim.Premiums with one provider […]

Panel sees no value in primary advice

The Financial Services Consumer Panel has hit out at the FSA’s plans for primary advice, saying it does not see “any value” in the proposals set out in the retail distribution review.The attack is a further sign that the FSA’s primary advice plans are proving unpopular across the industry, with growing concerns from key stakeholders […]

Polson quits ScotLife for Standard

Scottish Life head of corporate pensions Mark Polson is leaving the firm to join Standard Life Savings as head of corporate communications.Polson makes the move across Edinburgh in December after five years at ScotLife.He will be responsible for raising the profile of Standard’s platform business, including its wrap and fund supermarket Fundzone and will also […]

IFA caught in impasse on admin

An adviser claims he has been blacklisted by Cofunds and is no longer allowed to place any new business on the platform after his password did not work.Ian Lees, director of Ian Lees & Co Asset Management, says he had a Unipass certificate to access Cofunds but that when he tried to log in to […]


Employer iPMI responsibilities could continue to escalate, says Jelf

New laws in Dubai will put the burden of providing international private medical insurance (iPMI) firmly on the shoulders of the employer in order to maintain the country’s leading healthcare facilities. With 10,000 UK nationals having moved to the country since 2007 and only 16.5 per cent of the total 8.2 million people living there being Emiratis, Jelf Employee Benefits believes this move was inevitable and employer responsibilities could continue to escalate in future.


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