Premier Fund Managers has introduced the Premier x-cel portfolio.
The x-cel portfolio is a discretionary portfolio management service aimed at investors who have a minimum of £150,000 to invest and who are looking for growth.
Each client will be assigned a personal investment manager by Premier, who will assess any stocks they already hold and agree with the client on an investment approach. This will depend if the client has a cautious, balanced or aggressive attitude to risk, along with what they are looking for over the medium to long term.
The x-cel portfolio can be used to invest in any funds including Premiers and equities, as long as they are registered in the UK and are recognised by the Securities and Investment Board. Investment trusts are excluded.
Most portfolio management services offer similar facilities, although ones like the Credit Suisse private portfolio service limit the investment choice to a series of funds of funds. The x-cel portfolio therefore offers much more choice.
According to Standard & Poor's, of the nine Premier funds on the market two are fourth quartile, two are third quartile, three are second quartile and one is first quartile, based on £1,000 invested on a bid-to-bid basis with net income reinvested over one year to October 15, 2001.