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Selestia to offer EFM Fof range

Fund supermarket Selestia is to offer Edinburgh Fund Managers&#39 unfettered fund of funds range in a move it claims marks a first for multi-manager platforms.

Selestia will offer the funds – the fund of funds portfolio, the monthly income portfolio, the managed growth portfolio account and the performance portfolio account – from this week.

The funds, which boost the number of funds available through Selestia to more than 340, are among the best performing in their sectors over recent years.

According to Standard & Poor&#39s, the fund of funds portfolio has fallen by 24.5 per cent in the past three years compared with the sector average of -32.6 per cent. The performance portfolio has also outperformed, falling by 31.7 per cent compared with the average -38.2 per cent.

Selestia, which also offers SEI Investments&#39 manager of manager funds, says it expects to sign up more fund of funds in the near future. Marketing director Bill Vasilieff says: “This is the first time that IFAs have been given access to a specialist portfolio fund manager through a multi-manager platform.”

EFM marketing director Lesley Drummond says: “This endorses our leading position in the multi-manager market.”

Hargreaves Lansdown senior analyst Meera Patel says: “The funds have had good performance but there remains uncertainty over EFM&#39s future.”

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