View more on these topics

Product matters

I am often sceptical when an established

retail asset management house launches new funds.

After all, there are so many funds in the marketplace, you do have to question whether there is room for any more.

In addition, many of those who launch new funds would do well to concentrate on sharpening up some of their existing funds.

However, I do welcome those fund launches that bring something new to the party.

I feel that, in launching its Private Portfolio Service, Credit Suisse is doing just that.

The proposition is a comprehensive range of fund of funds managed by an established team with a solid track record.

Of course, funds of funds already exist and there are other new launches but, as far as I am aware, no other retail house offers the same wide range.

In the past, I think that the IFA community has often been reluctant to use funds of funds.

My view is that there have traditionally been two key objections.

First, the extra costs associated with a fund investing in other funds.

Second, the fact that IFAs have felt that building a portfolio of different funds is their job.

The cost issue is no longer quite so relevant, as the fund of fund managers can often buy at creation price and pay lower annual management charges.

So although there are extra costs, these will never be double.

In terms of fund selection – how many IFAs could claim to do that job as well as Gary Potter and Robert Burdett?

James Dalby is head of research at Bates Investment

Recommended

Aberdeen rocks split-cap sector

The decision to suspend dividends on Aberdeen&#39s European technology & income trust could send the split-capital investment sector into turmoil. The trust stopped dividend payments on its income shares last week after assets fell to £178m from £400m at its launch in March last year. After subtracting the trust&#39s £164m of bank borrowings, the fund […]

Fund sales are down by 28% but IFA share rises

Sales of unit trust and Oeic Isas continued to plummet in June, down by more than a quarter on the same month last year. Gross Isa sales for the month fell by 28.1 per cent to £571.7m compared with £795.5m in June last year, according to the latest figures from Autif. Total retail sales fell […]

Finsbury Tech Trust interim results show 11 per cent fall

Finsbury Technology Trust saw its net asset value per share fall 11 per cent in the six months to May, down 4 per cent on its benchmark, the Morgan Stanley Capital International World Index, which fell 7 per cent. The trust&#39s share price fell 8.7 per cent over the period.As was the case last year, […]

London&#39s West End calls for WELPUT

Benchmark Group and Schroder Property Investment Management have joined forces to offer the West End of London Property Unit Trust (WELPUT).Based in Jersey, the fund is a unit trust aimed at investors who consider property as a safe form of investment.WELPUT will take over the eight properties formerly owned by Benchmark. These include properties in […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com