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Pru and OBSR link on five risk-rated funds

Prudential has launched five risk-rated multi-asset funds in partnership with Old Broad Street Research.

The dynamic portfolio risk-rated defensive, cautious, cautious growth, balanced and adventurous funds will be available across Prudential’s pers-onal pension products, income drawdown, onshore and offshore bonds.

Prudential’s portfolio management group will be responsible for the asset allocation of the vehicles while OBSR will manage the selection and recommendation of funds to the portfolio management group.

The defensive portfolio will open with 55 per cent expo- sure to investment-grade corporate bonds while the adv- enturous offering has 66 per cent of its weighting in inter- national equities.

Each fund will typically hold 14-20 funds. Annual management charge is 1.4 per cent.

The funds will be available through Prudential’s personal pension products, income drawdown, onshore and offshore bonds via wraps and platforms.

Pru says that the launch was prompted by adviser demand. Director of investment funds Andy Brown says: “Advisers were telling us they were looking for help to make their advice pro-cess more robust and that was being driven by regulatory initiatives such as the retail dis- tribution review and treating customers fairly.

“Asset allocation and fund selection are vital in ensuring that client needs and long-term investment expectations are met. However, both are potentially demanding and time-consuming. For us, it is about providing advisers with access to particular skills that they may not have in house, the asset allocation skills of the portfolio management group and the fund research and analysis skills of Old Broad Street and making it available to them to use, regardless of which tax wrapper is suitable for the client.”

Evolve Financial Planning director Jason Witcombe says: “I am all for insurance companies helping advisers with tools to help them better align inv- estments with clients’ attitude to risk but where there are risk profiles, the adviser needs to be very comfortable that they give the result he or she thinks they should give.”



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