Many investors now require a flexible approach to their investment strategy, allowing it to change according to developments in their lives. Bearing this in mind, Premier Portfolio Managers has brought in the Premier c-lect, a fund of funds aimed at experienced investors and which is only available via IFAs.
The fund of funds allows the client to invest in the Premier c-lect balanced, Premier c-lect growth and Premier c-lect enterprise portfolios, which have cautious, balanced and adventurous attitudes to risk respectively.
The client can place their investment into any proportion of the three funds, to a minimum of £1,000, depending on their attitude to risk. Each IFA will therefore be able to tailor c-lect to the needs of each different client.
Many IFAs will be attracted to the renewal commission of 0.75 per cent, which is higher than the normal rate of 0.5 per cent on most other products. However this is not to be recommended to the investor with small portfolio, as the higher renewal commission will eat into this.
Premier already manages three funds of funds, according to Standard & Poor's. The Premier selector income fund is ranked 7 out of 10, whilst the Premier selector growth and Premier income growth are ranked 18 and 40 respectively out of 57 funds, based on £1,000 invested on a bid-to-bid basis with net income reinvested over three years to June 26, 2000.