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Sanlam to launch DFM service on Nucleus

Sanlam-owned global investment business P2international is launching a discretionary fund management service on the Nucleus platform.

The service aims to provide capital protection and will have around seven risk-profiled model portfolios; six growth portfolios and one income portfolio. Asset allocation will be determined by Morningstar.

A risk management overlay will be added through a partnership with US firm Milliman. An automated systems will determine a client’s allocation to cash, typically between 10- 20 per cent, and select the most suitable portfolio. The allocation will be balanced on a daily basis according to the volatility of market movements.

The fee for the service is 0.75 per cent, alongside fund and platform charges.

Sanlam Global Investment Solutions managing director and P2 chief executive Cobus Kruger says the strategy will cut volatility by half on average.

He says: “This service will significantly reduce volatility and minimise the extent of drawdown.”

Nucleus chief executive David Ferguson says: “This is a new approach to the way capital protection works on investment products and how it applies to people on an individual level, rather than a one-size-fits-all basis.”

Informed Choice managing director Martin Bamford says: “This type of service will appeal to advisers who lack the scale or resources to create their own investment proposition in-house. Using such a service should provide a compliant solution for advisers.”


Labour hits out at ‘complex’ Govt banking reforms

Labour Treasury spokesman Lord John Eatwell says the Government’s banking reforms are too complex and must be simplified. Last month, the Government published its banking reform draft bill based on Sir John Vickers’ Independent Commission on Banking recommendations, which plans to ring-fence banks’ retail arms from their investment business. Speaking at the Tax Incentivised Savings […]


IMA: Ucis ban should not lead to further misselling

The Investment Management Association has warned the FSA further Ucis misselling could occur if it permits the products to be recommended as a replacement product for existing Ucis investors. The trade body has called on the regulator to make advisers undertake a review of a consumer’s risk profile before a replacement product is recommended in […]

Morningstar to publish past performance alongside new share classes

Fund data provider Morningstar is to publish the past performance of funds alongside new share classes launched for the RDR. The data provider says new fund share classes will be appended with the track records of funds with higher charges. Morningstar’s director of data and research strategy for global funds Andy Pettit says: “An industry-wide […]

Iain Chadwick

The Budget 2015: a brief overview

Following George Osborne’s delivery of his sixth Budget as chancellor and the last of this current parliament, we have provided a brief overview of the initiatives put forward in his statement, focusing on the topics that have an impact upon the pensions landscape, savings, personal taxation and businesses.


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