Scottish Mutual has set up a multi-manager portfolio service for investors in its flexible investment bond.
The service, investment intelligence, provides investors with access to three pre-packaged funds from Scottish Mutuals sister company, Inscape. These funds cautious, steady and higher growth mix and match six underlying multi-manager Inscape funds to create the most appropriate portfolio for each risk profile. The cautious fund invests 80 per cent in bonds and 20 per cent in equities, while the other two funds have increased exposure to equities.
As an alternative to these funds, clients can choose their own funds from a range of six multi-manager funds from institutional fund management group Attica Asset Management. There is one bond fund and five equity funds focussed on the UK, the US, Europe excluding the UK, Japan and the Far East excluding Japan. Attica selects the underlying funds from a range of managers using internal research and also draws on external research from Mercer Investment Consulting.
This multi-manager portfolio service will increase investors choice of funds and provide access to funds which are normally only available to institutional investors with large amounts to invest.
Cazenove Investment Fund Management recently created a similar product, the Cazenove universal portfolio management service, which is also available within the Cazenove universal investment bond. The Cazenove product offers four multi-manager funds, which is not as extensive as the Scottish Mutuals range. However, the Scottish Mutual product is not available in its own right. This limits its appeal to existing Scottish Mutual investors and those who are planning to invest in the flexible investment bond.