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ScotEq Intl rethink for portfolio fund charges

Scottish Equitable International has brought in a new charging structure for its private client portfolio product aimed at increasing cost efficiency for IFAs.

The private client portfolio is an offshore single-premium bond which provides access to a variety of internal funds and a wide range of externally managed pooled asset funds.

The new “core and satellite” charging structure comes in response to research carried out by the company which reveals that many advisers and their clients prefer to adopt this style of approach to portfolio management.

Core funds are selected to meet the investor&#39s risk profile and form the central part of the portfolio. Satellite funds are used to add diversity or increase reward potential and to access specialist areas to boost long-term growth.

Figures from the Investment Management Association show that investors hold an average 50-60 per cent of their portfolio in core holdings.

ScotEq International has reduced its annual management charge on the 10 most popular core funds in its range, including the short-term bond fund and two Northern trust manager of manger funds. Advisers are encouraged to add in satellite funds.

Public affairs manager Lesley McPherson says: “Our research shows that advisers tend to use this core and satellite approach when allocating investments within a portfolio bond. We have picked our 10 most popular core funds and reduced the charges on them to make this approach more cost-effective for advisers and clients.”


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