T Bailey’s proposal to change the benchmark of its growth fund from a composite benchmark to the IMA global growth sector average has been approved by 94 per cent of unitholders.
The change follows feedback from advisers who felt it would be easier to monitor the fund’s performance against its peers using the sector average. The fund’s asset allocation will stay the same and T Bailey will continue to use the composite benchmark internally.
IFA comments have also prompted the multi-manager to launch a new actively managed passive fund, update its website and join Twitter. The company says its sales team has enabled it to spend more time talking to advisers to find out what they want and look at ways to deliver this.
Head of sales and marketing Philippa Gee says: “We have revamped the com- pany website so that when you enter it, you no longer have to select whether you are a private investor, an adviser or a member of the press. You can go straight into the information.
“Certain elements are only available to IFAs, as they contain confidential client information, so there is a point where advisers have to log in.
“We want to give advisers and investors a better feel for the people behind the company, so there are biographies of the people at all levels within T Bailey and the board. We want to be transparent.”
Gee says T Bailey has joined Twitter due to requests from some IFAs who communicate that way: “We tweet every day but we want to make thought-provoking comments, not bland company statements.”