True Potential’s discretionary portfolios have attracted £2bn in the past year, with inflows up 200 per cent.
The firm has announced that the 10-strong suite of funds are currently seeing daily inflows of £10m, with the range now holding £3bn in assets under management.
The figures have been released as model portfolios come under the regulator’s gaze. In the FCA’s asset management interim study, published in November, the regulator highlighted three risk areas among model portfolios: comparability, choice of asset managers and value for money.
Furthermore, the FCA has said it will assess the use and value of model portfolios and multi-manager funds in its platform study, quoting a survey by Platforum that found such portfolios are currently used by around a third of retail investors.
True Potential uses UBS, Allianz, Goldman Sachs Asset Management, Columbia Threadneedle, Schroders, SEI, Close Brothers and 7IM as its investment partners for the portfolios, which launched in October 2015.
Deputy chief investment officer Chris Leyland says: “This is an incredible result beating all previous expectations. You can see genuine traction as more and more advisers and their clients start to use the True Potential Portfolios and enjoy the very real benefits of advanced diversification.
“When I think back to when we launched and the position we are in right now, this is indeed a very proud moment and I look forward to the True Potential Portfolios continuing to grow and to offer clients an investment solution that genuinely works.”