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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.”

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